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Money Box

MBL: Record redundancies

Money Box

BBC

Business

4.2804 Ratings

🗓️ 18 November 2020

⏱️ 33 minutes

🧾️ Download transcript

Summary

The UK is seeing a record number of redundancies, with the latest figures showing more than 314,000 people lost their jobs over the summer. Charmaine Cozier and our panel are here to answer your questions on all things redundancy, from legal rights to budgeting while you're out of work.

Drop us a line with your thoughts or questions: [email protected] or tweet @moneybox

Panel: Susie Al-Qassab - Head of Employment Law, Hodge Jones & Allen Solicitors Bukiie Smart - Founder of Save Spend Invest

Presenter: Charmaine Cozier Producer: Beth Sagar-Fenton Editor: Emma Rippon

Transcript

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0:00.0

In Northern Ireland, from the late 70s to the early 90s, the IRA killed over 40 alleged informers.

0:08.0

But the man who often found, tortured and sometimes killed these people on behalf of the IRA

0:12.0

was himself an informer, a secret British army agent with the codename Stakeknife.

0:18.0

Who gets to play God? And why me? Why my family? When lies are still being told to this day,

0:24.0

who do you believe? I wouldn't even know where to start and I'm with the IRA.

0:28.5

Steakknife. Listen first on BBC Sounds. Welcome to the download of Moneybox Live, the program about

0:35.4

your money. An unexpected end to employment is one of the most upsetting personal finance events you can

0:41.1

experience. The economic effects of coronavirus have placed many in that situation.

0:46.7

Figures from the Office for National Statistics reveal that between July and September this year,

0:51.3

a record 314,000 people in the UK were made redundant.

0:56.7

Today, we're discussing the legal aspects of redundancy and ways of managing your finance

1:01.0

during times of uncertainty with our panel. So, let's meet them. Susie Al-Kasab is an employment

1:07.1

law partner with Hodge, Jones and Alan. Hello, Susie. Hi there. Now, how much of an

1:11.7

increase have you seen in redundancy cases? Oh, we've definitely seen quite a significant increase

1:17.5

because of the economic fallout of the pandemic, particularly large-scale redundancy programmes

1:22.7

and whole business restructures rather than, you know, just a couple of roles in particular teams or areas. I think, you know, generally speaking, many businesses are in survival mode,

1:33.4

which also means that they're cutting corners and not following fair process and that's forcing

1:38.6

more employees to seek help as well. So in your experience, is this the most widespread it's

1:43.8

ever been? I think in my experience,

1:47.5

certainly, yes, and I've been practising for over 10 years. Right. And our other panel guest is

1:53.1

Buckey Smart, founder of the Save Spend Invest Money Management website. Hello, Buckey. Hi,

1:58.8

Shameen. Have you always been on top of your finances?

...

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