Redundancy tips for Gibraltar Employees

Posted by Angela Francis on May 27th, 2019 in Training
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I’m writing this blog based on the news that bet365 are relocating their office to Malta which will mean for many … redundancy. It will also no doubt instil ‘uncertainty’ to many other employees working at local competitors.

Redundancy brings a catalogue of emotions, a whirlwind of communications and will no doubt increase your stress levels. Before I offer tips of maintaining a balanced mind set even a positive one, to the news of being made redundant here is some essential info:

What is redundancy?

Redundancy is the state of being no longer in employment because there is no more work available.

What are my rights as a Gibraltar employee?

You are entitled to see your companies redundancy policy and review your contract to ensure you know what to expect and that you are treated fairly.

  • Redundancy pay is only paid to employees who have completed 1 year or more service
  • Redundancy pay:

(a) 2 weeks’ pay  for each of the first 5 completed years of service

(b) 3 weeks’ pay for each of the next 5 completed years of service

(c) 4 weeks’ pay for each additional completed year

(d) 2 weeks’ pay  for employees’ aged 41 years and over, for each completed year of service after the age of 40

  • Maximum redundancy pay is 1 year pay
  • Collective redundancy (where 5 or more people are made redundant) will initiate consultation period having a maximum 90 day period

Tips for staying positive during a redundancy:

  1. Accept that the redundancy is not personal this is paramount in being able to focus positively.
  2. Understand your finances and how long your money will last.
  3. Get support – talk to family, friends and co-workers and us here at Grasp Ltd
  4. Enjoy some time to do the things you like to do – there is no need to panic
  5. Look for work – remembering that money and benefits isn’t all happiness, really understand the culture of where you will apply to make sure you fit in.
  6. Let everyone know you are on the market – add a fanfare or do the cancan to be seen and heard! Be you, employers always seek genuine people.

In a bid to support you personally, mentally and emotionally Grasp Ltd are offering group sessions for jobs seekers – let’s revamp your CV, source job leads and prepare you for that all important interview. Book now by email info@grasp.gi and let us help you find your next role.

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