blasted
Prominent Member
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- May 26, 2004
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Hi Guys,
I would be grateful if people could offer up any opinions on what they think is the better course of action for my upcoming predicament. Peoples experience stories of a similar nature are also welcome.
Basically the company I work for is relocating down south, well further south than where I live now. The company has decided to centralise which makes sense and have all the engineering guys in one place. In order to do this a great deal of people are going to have to move. the company has stated that anyone outside of a certain travelling time from the new office will have the option of either relocation or redundancy.
Just to add a little context I'm mid thirties with 15 years engineering experience covering aircraft and rail and I have an engineering degree to back it up. I'm not married or have children and aside from my mortgage I'm debt free.
So, going with the first option, I would have to move further south. An area which would almost be affordable is about a 30 minute commute from the new office and probably an hour and ten from where I live now. Obviously no one wants to move house, I for one don't like the idea of being away from friends and family. But it does mean I get to stay in a job and there may even be an opportunity to progress due to the amount of people flat out refusing to go. My concerns are that I currently live in a little 3 bed detached which I love, moving may mean I don't get the same standard of living, i would have to move to a smaller house and probably increase my mortgage. The company has offered to pay lawyers, estate agents, stamp duty, removals and chuck in a small token of appreciation (grand or two). I'm lucky in that I don't have kids or a partner to worry about but at the same point I don't want to be sat in some house completely alone and depressed. The area I am looking at is an hour and ten down the road from where I live now, so its not a million miles away, but it is a big psychological thing.
The second option is to take redundancy. Under my current arrangements this would involve me getting 6 months notice followed by approximately 18 grand tax free. Now if I were able to walk straight into another job it means I get to stay where I am (location) and have a nice sum to invest, the flip side is not being able to walk into another job, in which case I could probably make the money last a year if I lived carefully. Even though we are in troubled times I am still seeing people walking into other positions relatively quickly. Having spoke to a few they often remark that it a good thing as it pushed them to try other jobs and careers.
So, do you go with the rock or the hard place?
I still need to get a few facts together such as what options do I have to adjust mortgage repayments should I go down the redundancy route. I'm sure there is load of other stuff I have forgotten as well.
I would be grateful if people could offer up any opinions on what they think is the better course of action for my upcoming predicament. Peoples experience stories of a similar nature are also welcome.
Basically the company I work for is relocating down south, well further south than where I live now. The company has decided to centralise which makes sense and have all the engineering guys in one place. In order to do this a great deal of people are going to have to move. the company has stated that anyone outside of a certain travelling time from the new office will have the option of either relocation or redundancy.
Just to add a little context I'm mid thirties with 15 years engineering experience covering aircraft and rail and I have an engineering degree to back it up. I'm not married or have children and aside from my mortgage I'm debt free.
So, going with the first option, I would have to move further south. An area which would almost be affordable is about a 30 minute commute from the new office and probably an hour and ten from where I live now. Obviously no one wants to move house, I for one don't like the idea of being away from friends and family. But it does mean I get to stay in a job and there may even be an opportunity to progress due to the amount of people flat out refusing to go. My concerns are that I currently live in a little 3 bed detached which I love, moving may mean I don't get the same standard of living, i would have to move to a smaller house and probably increase my mortgage. The company has offered to pay lawyers, estate agents, stamp duty, removals and chuck in a small token of appreciation (grand or two). I'm lucky in that I don't have kids or a partner to worry about but at the same point I don't want to be sat in some house completely alone and depressed. The area I am looking at is an hour and ten down the road from where I live now, so its not a million miles away, but it is a big psychological thing.
The second option is to take redundancy. Under my current arrangements this would involve me getting 6 months notice followed by approximately 18 grand tax free. Now if I were able to walk straight into another job it means I get to stay where I am (location) and have a nice sum to invest, the flip side is not being able to walk into another job, in which case I could probably make the money last a year if I lived carefully. Even though we are in troubled times I am still seeing people walking into other positions relatively quickly. Having spoke to a few they often remark that it a good thing as it pushed them to try other jobs and careers.
So, do you go with the rock or the hard place?
I still need to get a few facts together such as what options do I have to adjust mortgage repayments should I go down the redundancy route. I'm sure there is load of other stuff I have forgotten as well.