Redundancy pay out.

[Guanche]

One of my brother in laws has at last got his redundancy pay out. After numerous court cases over the last few years which resulted in the total embargo of his ex-employers property, they coughed up €42,500 this morning. This is less than half of what he was entitled to, but his legal advisor told him to snatch their arm off and settle. He was made redundant after 39 years of employment.
The timing was very fortunate as he was just starting his first month under the 'Auda' payment of €450 a month. As he is 58 and has paid the full amount of social security payments he will continue to receive the 'Auda' even with the pay out. Its highly unlikely he will ever work again so the money will have to last until he is 65 when his pension kicks in.

My sister in law settled her redundancy amount with her ex-employer last week. After 30 years of employment she is waiting for a cheque for €7,000. Again she was advised to accept the offer by her solicitor.
So out of the three brother in law's and one sister in law on the island only one is working. Although it fair to say one did take early retirement from Unelco.

[Briz]

One of my brother in laws has at last got his redundancy pay out. After numerous court cases over the last few years which resulted in the total embargo of his ex-employers property, they coughed up €42,500 this morning. This is less than half of what he was entitled to, but his legal advisor told him to snatch their arm off and settle. He was made redundant after 39 years of employment.
The timing was very fortunate as he was just starting his first month under the 'Auda' payment of €450 a month. As he is 58 and has paid the full amount of social security payments he will continue to receive the 'Auda' even with the pay out. Its highly unlikely he will ever work again so the money will have to last until he is 65 when his pension kicks in.

My sister in law settled her redundancy amount with her ex-employer last week. After 30 years of employment she is waiting for a cheque for €7,000. Again she was advised to accept the offer by her solicitor.
So out of the three brother in law's and one sister in law on the island only one is working. Although it fair to say one did take early retirement from Unelco.

Glad to see he got something off them
It is getting tough now to get anything off a company in Tenerife