If your employer has offered you a compromise agreement, otherwise known as a settlement agreement, you may be feeling a range of emotions – shocked about being asked to leave your role, nervous at the prospect of facing unemployment and concerned about your financial security.
Redundancy commonly happens when employers decide that they need to reduce their workforce or restructure their business. In a recession this is more common, however the official reasons for making someone redundant are somewhat different.
In the current economy, job roles are frequently being dissolved as companies take drastic measures to cut costs. While the UK has narrowly avoided a triple-dip recession, redundancy is still on the up.
Apparently all we need to get our sluggish economy up and running again is the ability to sack people more easily. This according to a man who gets at least some of his wealth lending to the desperate and charging them nearly 4,200% APR. This is definitely someone whose advice I want when I am down on my uppers.