Corporate Shipbuilding – voluntary redundancy application process
This article provides you with all of the information that you need regarding the application process for voluntary redundancy and details of the terms applicable.
Terms and conditions
- If you choose to apply for voluntary redundancy, acceptance of the application is not guaranteed
- Corporate Shipbuilding has absolute discretion to decide whether or not to accept any individual application for redundancy
- Decisions about application acceptance will be based on the types of knowledge and skills we believe will be necessary to meet the future needs of the business and our overall situation at this time; we need to retain a balance of skills
- The company’s decision about whether to accept or reject an application is final.
Application process
- You can download the application form
- Before applying for voluntary redundancy, we ask that you speak to your line manager to let them know
- You should then complete the form and return it to: lucy.davis@carnivalshipbuilding.com
- Your application must be submitted by 5pm on Friday 12 June 2020.
- Any forms submitted after the deadline may not be considered.
If you have any questions or issues that you would like to discuss before making an application, please contact your line manager or VP/Senior Director.
Next Steps
Once your application has been submitted, it will be reviewed by the business and you will be advised in writing if your application has been accepted or rejected by 26 June 2020.
Please note that expressing an interest in or volunteering for redundancy will not amount to a resignation and will not be held against you if your application is refused or withdrawn.
If your application is accepted, you will be invited to a meeting to discuss the terms of voluntary redundancy i.e., the proposed termination date, entitlement to notice, final pay and benefits and redundancy pay.
Voluntary Redundancy Payments
Employees who volunteer for redundancy will be entitled to statutory redundancy pay.
You will only qualify for statutory redundancy pay if you have at least two years’ continuous service.
Statutory redundancy pay is based on your age, your weekly pay and number of years of continuous service at the date of termination.
Weekly pay is capped at £538 and your length of service is capped at 20 years.
You will receive:
- 0.5 week’s pay for each full year worked when you’re under 22
- 1 week’s pay for each full year worked when you’re between 22 and 41
- 1.5 week’s pay for each full year worked when you’re 41 or older
Redundancy pay up to £30,000 is tax-free.
If you are considering an application for voluntary redundancy and would like to calculate a potential redundancy package, please visit [https://www.gov.uk/calculate-your-redundancy-pay]
You should contact your pension provider directly to understand the impact an application may have on your personal pension.
Further support
Our Employee Assistance Programme offer confidential employee support on a wide range of topics:
Call: 0800 3 58 48 58 (outside the UK +44 141 271 7179)
For online support join: Validium.com/vClub
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