QuoteOriginally posted by: ashkarIts still not clear to me what redundancy actually means to the company. When I asked my boss he said that if asked for reference they would say that I was 'fired'. Also, I havent seen anyone who was made redundant coming back to the 2 banks where I have worked. But I have seen many people come back to my bank after months/years of leaving. The issue may also be that people other than my boss wont know that the redundancy was voluntary. In my company they use redundancy to trim the bottom five % so others may see me as one of the slackers. Its likely that I may come back to my bank in the future as its a big employer so I wanted to leave things clear. My boss is actually keen to have me back after I finish the project etc if I resigned (not sure if the same would hold if I was made redundant). Eventually it was a risk/reward thing and the redundancy package didnt look too sweet to put my reputation at risk (~10k tax free).Don't ask your boss about HR matters, ask your HR department. Your boss is completely wrong. Your CV/resume should state you worked at XYZ from t1 to t2 and that you took voluntary redundancy. If a potential employer wants a reference they will contact XYZ and ask "Did ashkar work here from t1 to t2, and he take voluntary redundancy?" XYZ will then say yes.When asked why you can spin it any way you want: bored, good package, pursue trading, whatever. Resigning without a new job could be interpreted as you being "asked to leave" but allowed to go on your terms so it's just as likely to damage your reputation as taking voluntary redundancy. (Actually it's just as unlikely).When made redundant you get a chunk of money tax-free but the company has to pretend your job no longer exists. They can't then just hire you back again shortly afterwards. Of course things change rapidly in finance and there'd be no issue working for the same employer a few years later. If you're planning on resigning anyway it makes no sense not to take the package and get some free money.
Last edited by MattF
on October 6th, 2013, 10:00 pm, edited 1 time in total.