Redundancy

[minimutly]

I started a couple of pension plans in my 20's but never increased payments after my 30's kept paying in, thought they would be sh1t but turned out to be not too bad, did a drawdown, don't expect to live long enough to make an annuity work, also got a lump left from selling the freehold business premises everyone said I was stupid to buy 25 years ago, did not reinvest the money from the sale of the premises, again everyone said I was stupid, maybe not, how much have pension pots and shares dropped recently? made a lot of mistakes over the years and whilst I was a very good mechanic and always treated my customers well, I was not the worlds best businessman, must have done something right though, old customers still ring me for a chat.....

You never shafted them - simple as that. Rare these days...
I have a mental register of anyone who I have dealings with who do this to me - I never have time for them after this.

 

[Wightsparks]

OP and others, bear in mind in these uncertain times that if the company is thinking they might need too make 20 or more people redundant then they need to give a minimum of 30 days notice and have consultations, 45 if it's more than 100 people.
This means that in order just to have the option to cut staff overheads (usually in order not to go bankrupt ) in a month or 2 or 3 then they need to get things rolling long beforehand, there will also have been about a month of internal work just to get to the point of the HR letter, not to mention putting finance in place to cover the redundancy costs.
Be aware that larger company's hands are tied by legislation and they have to act months ahead just to keep options open.