redundancy payment


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redundancy payment

n
(Industrial Relations & HR Terms) a sum of money given by an employer to an employee who has been made redundant: usually calculated on the basis of the employee's rate of pay and length of service
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
Translations

redundancy payment

n (Brit) → indennità f inv di licenziamento
Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995
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Is there a maximum amount of pay that can count towards a statutory redundancy payment? A.
Some people will be due a quite sizeable redundancy payment too so there is a silver lining."
THE Welsh Government's largest single redundancy payment in 2014-15 was PS232,050 - nearly 10 times the average annual wage.
To receive redundancy payment, people need to file an application form from a local social insurance office, along with an employer's letter explaining the reasons for dismissal, within three months from termination of employment.
Applications pending for redundancy payment in September soared by 60.36% year on year to 16,308, according to the Ministry of Labour and Social Insurance, compared to 16,204 in August and 10,793 in September last year.
"In many cases these companies could well have a future if they were able to re-gear their operations and move forward but, put simply, paying redundancy to the remainder of their workforce simply isn't viable." 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.
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. Am I entitled to one?
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.
During this period, L18,000 was the maximum redundancy payment which a British steelworker could receive.(24)

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