Redundancy

It has been almost a decade since the topic of redundancy was made a buzz word in Geelong at a time when Alcoa, Target and Ford were all making mass layoffs. Unfortunately, Ford have recently announced further redundancies which has warranted a revisit of the key considerations when being laid off.

Being made redundant is never easy. However, if you are made redundant it is important you Seek Financial Advice from a professional to ensure all important financial options are considered. Things worth reviewing include taxation, superannuation, insurances, Centrelink entitlements, and investments & cashflow. A summary of each is outlined below:

While the idea of facing a redundancy isn’t pleasant, it can be a possibility. To help guide you through the process, below are the answers to the questions we hear most frequently. How much will I receive? Whilst the total size of a redundancy package will vary from situation to situation, packages will typically include…