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FoOr many people, me included, it pushed me to do something I'd been procrastinating about for ages - setting up my own firm. 16 years on, it has worked out very well.
Without the redundancy option, I would have most likely carried on as is.
Happened to me once about 6 years ago, I had 12 years with the company and got a nice payout. I spent 2 months doing up my house before getting a new job, I had a six month old and 3 yr old at the time so got to have everything some good family time with them.
looking back, it was a great career opportunity getting me out of a stale job with no much opportunity, and it's now propelled me up the career ladder having used it to change jobs a couple of times and move up the ladder.
My advice would be to start working on your cv now, maybe spend 15 mins everyday just giving it an update and tweak.
I'm another that will champion the contracting world.
Ive been made redundant twice in my working life. The first time it took me a long time (about 3 years) to make happen, and although the payoff paid off my mortgage, I do resent the wasted time and sometimes wish that I'd just walked without the payoff.
Then I made the mistake of going back to a job (after a short period of contracting). Took less time to get paid off (must have been the practice), but that was 13 years ago now, and I can't imagine going back to a job ever again.
Contracting is more secure (as long as you invest time in your network), more rewarding, and keeps you more honest.
@Jalapeno - you must have seen the contractors in your world, and must have the contacts there to start building your own network. Get on it!
Because that is the premise of a dreadful, depressing sitcom, that's why.
Took me out of my comfort zone and ended me up taking some risks and ending up in a new career.
It looks like I might be in a similar position in a few weeks, so this thread has been helpful.
So now the reality is that I'm unemployed and unsure what other work I can do other than starting at the bottom again on minimum wage.
I've always wanted to be a property developer but doubt my redundancy payout would cover that idea!
Applied online for Jobseekers Allowance today and should get an appointment in a couple of days.
Been decorating my house.
I'm full of the cold.
The joys!
Signed on with specialist agencies before I left and it felt like I'd walk into a job for a few months but looking like I was a bit deluded. Applied for a few things but nothing useful come back yet. I'm on the cusp of going for something different than I've ever done but low paid, but I also realise they can be the hardest to get cause, let's face it, almost anyone can do them.
I'd quite like to enjoy the time off but as it goes by the uncertainty is starting to take the edge off not having to go to work.
Weird time.
I think my current workplace is four months away from putting me in the same position.
I've only been in the job for three years. So i would get next to nothing for a payout. Fingers crossed im out soon.
Really hope something comes along for you. It'll feel weird getting out of the pattern. But it could be the best thing for you.