Recent months have seen a significant rise in redundancies across Ireland, affecting various sectors. Whether you’re directly impacted or concerned about job security, understanding your rights and planning ahead is crucial.

📊 Recent Redundancy Announcements

Schedule a Redundancy Review

Several companies have announced job cuts:

  • Carelon Global Solutions (Limerick): Approximately 300 jobs will be lost as the company ceases operations by the end of 2025

  • New Look: All 26 Irish stores are closing, resulting in 347 job losses.

  • TikTok (Dublin): Up to 300 roles are at risk due to global restructuring efforts

  • RTÉ: The broadcaster is offering voluntary redundancy to up to 400 staff, with payouts capped at €300,000

  • Goal (Aid Agency): Facing funding cuts, Goal plans to lay off 30% of its staff, affecting 28 positions in Ireland.

Request a free call back now

🛡️ Understanding Your Rights

If you’re facing redundancy, it’s essential to know your entitlements:

  • Statutory Redundancy: Two weeks’ pay per year of service plus one additional week’s pay, subject to a weekly pay cap.

  • Notice Period: Employers must provide a notice period or payment in lieu, depending on your length of service.

  • Collective Redundancy: If a large number of employees are being made redundant, employers have additional obligations, including consultation periods and notification to the Minister for Enterprise, Trade and Employment.

📈 Financial Planning Post-Redundancy

Managing your finances after redundancy is crucial:

  • Budgeting: Assess your current expenses and adjust your budget to reflect your new financial situation.

  • Emergency Fund: If possible, set aside funds to cover essential expenses during your job search.

  • Debt Management: Prioritize high-interest debts and communicate with creditors about your situation.

  • Pension Considerations: Explore options for preserving or transferring your pension benefits.

🤝 How QFinancial.ie Can Assist

At QFinancial.ie, we offer personalized financial advice to help you navigate redundancy:

  • Redundancy Package Analysis: Understand the components of your redundancy package and how to maximize its benefits.

  • Financial Planning: Develop a comprehensive plan to manage your finances during this transition.

  • Pension Guidance: Receive advice on preserving and optimizing your pension benefits.

  • Job Search Support: Access resources and strategies to assist in your job search.

📞 091 421900