Really, just no, really

The collapse of Sir Philip Green’s empire risks lumbering taxpayers with a £50m bill for redundancy payments, The Sunday Telegraph can reveal.

Statutory notice and redundancy payments owed to almost 13,000 Arcadia Group staff total £47.6m, according to calculations prepared by administrators Deloitte.

OK. But this:

With few jobs expected to be saved, staff will have to claim statutory payments of up to £538 for every week’s service from the Government.

No, you don’t get £500 for every week you’ve worked somewhere. You get a week’s pay for every year you’ve worked there is closer…..

11 thoughts on “Really, just no, really”

  1. Basically correct. More exactly:

    You get:

    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

    Only knew this because I’m having to lay somebody off when the CJRS finishes. Luckily, they’ve got somewhere else to go already.

  2. Lots of Great Paid Holiday mugs will soon be equally crestfallen by similar discoveries. Do you get same or like terms if you have already been on generous funny money handouts for 12 month and a day etc?

    Whatever the mechanics –soon be millions of very unhappy mugs with something much more urgent that virus freak BS to worry about.

    As I look around this cowardly shabby dim shithole of a country–“Serves most of ’em right” is my thought on it. Kiss Blojob’s arse and die from shite poisoning seems fair enough result.

  3. @ Surreptitious Evil

    Basically correct. Even more correcterererer

    Length of service is capped at 20 years and weekly pay is capped at £538.

  4. Also the weeks pay can be pegged at a maximum of £572 and the years can be pegged at a max of 20.
    So some people are going to get a reality check, sooner or later-good and hard.
    Pity is its not going to be the public sector.

  5. @Andrew

    Mostly correcter. How do you know my soon to be ex-employee isn’t in Northern Ireland?

    😉

  6. Does the taxpayer really pony ups if the firm can’t? Why?

    Part of the NI that they pay is insurance to cover this risk. (Yes, I know.)

  7. “Does the taxpayer really pony ups if the firm can’t? Why?”

    Isn’t this something about tiding you over until you are eligible to claim benefits? It’s been a long time since I went near this stuff so it’s like a lizard memory

  8. Bloke in North Dorset

    Part of the NI that they pay is insurance to cover this risk. (Yes, I know.)

    And its not means tested. When Arthur D Little went bust we all got it and I just carried on as a contractor as if nothing had happened. I was even batter off, as was the client, as the middle man who took about 2/3rds of my fee was taken out of the equation.

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