15 January 2009
Redundancy advice issued to workers
In the light of rising redundancy figures, an industry practitioner has given advice to workers concerning their rights.
Writing for GMTV, money saving expert Martin Lewis said that people who lose their jobs in this way have a legal right to redundancy pay.
He pointed out that employees who have worked for an organisation for two years qualify for such remuneration, the value of which is worked out using a formula.
Mr Lewis added that this is the legal minimum and contracts may state that staff members are entitled to more money.
He said: "You can always argue for it. It's crucial you check your employment contract to see what you're entitled to."
The expert went on to say that some contracts also specify a minimum notice of employment termination, meaning that firms are obliged to pay this at full wages even if workers are told they do not need to work during it.
Recently, charity Age Concern said that older workers are the most at risk of being made redundant.