UK offers worst redundancy pay in Europe
A new study has revealed wide variations in redundancy pay across the EU, with minimum redundancy pay up to five times higher in some EU states than others, with the UK amongst the worst offendors.
Link: The right way to handle redundancies
According to new research by Mercer Human Resource Consulting, France, the Netherlands, and the UK have the worst redundancy pay, while the most generous terms are on offer in Spain, Italy, Belgium and Austria.
Based on minimum statutory paid notice and severance pay for a white-collar employee aged 40, made redundant after 10 years on a salary of £20,000, the average redundancy pay across the EU was £11,163.
But using the same comparison the redundancy pay would be just £5,000 in France and the Netherlands and £5,128 in the UK. In Spain and Italy the payment would be £25,464 and £18,276 respectively, and £15,000 for both Belgium and Austria.