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Standard package for IT redundancy package

  • 06-07-2016 1:56pm
    #1
    katyj
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hi,

    I'm working for a large american IT company with a R&D centre in Dublin. I may be in line to take voluntary redundancy and was wondering if people had any insights into what an IT redundancy package looks like. I've heard 6 weeks per year of service, extension of VHI cover for x months, offer or recruiting and accountancy services (or cash in lieu).

    Any information welcome.


Comments

  • #2
    uck51js9zml2yt
    Closed Accounts Posts: 18,268 ✭✭✭✭uck51js9zml2yt


    katyj wrote: »
    Hi,

    I'm working for a large american IT company with a R&D centre in Dublin. I may be in line to take voluntary redundancy and was wondering if people had any insights into what an IT redundancy package looks like. I've heard 6 weeks per year of service, extension of VHI cover for x months, offer or recruiting and accountancy services (or cash in lieu).

    Any information welcome.

    The legal requirement is 2 weeks per year. Anything after that is goodwill.


  • #3
    Manach
    Moderators, Society & Culture Moderators Posts: 9,768 Mod ✭✭✭✭Manach


    6 weeks is the standard, subject to certain upper limits for long service. As well there might be some transition training/ cv writing etc.


  • #4
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    http://www.citizensinformation.ie/en/employment/unemployment_and_redundancy/redundancy/redundancy_payments.html


  • #5
    Diziet
    Registered Users, Registered Users 2 Posts: 831 ✭✭✭Diziet


    katyj wrote: »
    Hi,

    I'm working for a large american IT company with a R&D centre in Dublin. I may be in line to take voluntary redundancy and was wondering if people had any insights into what an IT redundancy package looks like. I've heard 6 weeks per year of service, extension of VHI cover for x months, offer or recruiting and accountancy services (or cash in lieu).

    Any information welcome.

    I thought I had replied to this already, but can't see it. The 6 weeks is pretty standard for multinationals, plus outplacement service and tax advice (that last bit is very useful). Good luck.
    (had 2 redundancies on these terms from large American multinationals - both downsized during recession )


  • #6
    mcgovern
    Registered Users, Registered Users 2 Posts: 4,267 ✭✭✭mcgovern


    Worked for a large American multinational, they always gave 5 weeks, and no extras.


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  • #7
    Enigma IE
    Registered Users, Registered Users 2 Posts: 1,158 ✭✭✭Enigma IE


    If there have been any previous/recent redundancies, try to find out what was the terms of those packages. If they are recent, then a precedent has been set, so you should expect at least the same as previous packages.

    As another poster has said however, the statutory requirement is 2 weeks per year of service, the rest is goodwill.


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