What does voluntary redundancy mean?

voluntary redundancy

Voluntary redundancy is when an employer gives employees the choice to leave their job with redundancy benefits, and the employee agrees to it.

In voluntary redundancy, employers propose a redundancy package to their employees who can then choose to accept it and leave the job. This package often includes financial benefits and is offered in situations like business restructuring or downsizing. The employee's acceptance is voluntary, meaning they have the choice to stay or leave under the proposed terms.

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Other glossary terms

all purpose allowance

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An all purpose allowance is an extra amount of money added to what an employee earns every hour.

pieceworker

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A pieceworker is an employee who earns payment based on the quantity of items they produce or tasks they complete, rather than the hours they work.

apprentice

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An employee who is training in a particular trade or profession by working and learning on the job, under a specific training agreement with their employer

redundancy

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Redundancy is the termination of an employee's job due to the employer's decision that the job is no longer needed, excluding situations of staff turnover.