Some people will be due a quite sizeable redundancy payment
too so there is a silver lining.
The Redundancy Payment
Service can also pay both employee pension contributions and employer contributions, within specified legal limits.
We reported earlier in the year that the Welsh Government forked out a massive PS232,050 in a single redundancy payment
Last year, 11,724 people filed for redundancy payment
Applications pending for redundancy payment
in September soared by 60.
Companies can get help from the Government's Redundancy Payment
Scheme but Mr Coyne believes that is fundamentally flawed.
The highest individual redundancy payment
was pounds 949,000, followed by pounds 600,000 and pounds 435,000.
Those who lose their jobs are entitled to a statutory redundancy payment
, provided they have worked with their employer for two years.
He said: "Given the unprecedented increase in redundancy payment
claims lodged with my Department since late 2008, it has proved impossible to maintain the customer service targets previously obtained.
My difficulty is that although I have been given one week's pay in lieu of notice and my accrued holidays, I have not received any redundancy payment
To be eligible for the statutory minimum redundancy payment
you must meet all the following criteria:
The agency that employed me said they would send out my redundancy payment
but I never received it.