Well, it finally happened

I’ve been expecting this letter for a while now. The big day of release for my company was today. I have been notified of my redundancy.

I’ve been busting my balls to get a big project off the ground and it is starting to make progress. It seems my wings have been clipped and I’m being taken out and replaced by other colleagues. This is the most annoying part of the process.

I’m annoyed, but also secretly glad. I haven’t been enjoying working at my company. I’ve only been there since October 2019, so I’m still the new guy. On the age-old rule of last in, first out I’ve taken the hit for the team and am being furloughed in 2 weeks time. I am relatively expensive for them and also have no statutory protections due to my length of service. I will get 3 months pay due to my notice period and a months pay tax-free. It’s ok. I also have my emergency fund, which I’ve been adding to recently in anticipation of this event, is about 4 months expenses. I should be financially ok.

I will be examining the decision in great detail and seeing if there was any unlawful conduct, but I can’t see there being. It’s a simple fact of the company’s business has nosedived and I’m expensive and new so am an obvious target.

My boss said he is very sorry and not to take it personally, however, when someone removes your livelihood, it is difficult not to take it personally! Anyway, as I said previous, THANK GOD I’ve been pursuing FIRE. My emergency fund has made this into a comparatively non-emotional event and will tide me over until I can do something else.

5 thoughts on “Well, it finally happened

  1. I’m really sorry to hear that! Like you said you’re well placed having been pursuing FIRE and having an emergency fund so you’re probably better placed than 99% of people (not that that’s much consolation I know).

    Will you be taking a little break or looking for a new position straight away?

    1. Thanks for that. It’s still sinking in and I think I’ll take some time to regroup and plot my next move. There was talk of about 6 weeks of furlough so maybe I’ll use some of that to consider my future 🙂

  2. Sorry to hear this, PWF but as you say, you are in a good financial place to see this through. Not much consolation but imagine if this had happened before you found out about FIRE and you still had all those loans and credit cards outstanding! Doesn’t even bear thinking about does it!

    All the best with what you decide to do next!

    1. Thanks! You are correct regarding pre FIRE me. I’m sure there are people in the same position as me who do have those debts etc and will be suffering much more. I will keep you all posted on next moves…!

Leave a Reply