Indeed concession on voluntary first approach to redundancy welcome but redundancy terms are unacceptable to staff say FSU

05 June 2024

The Financial Services Union (FSU) have welcomed a move by the company Indeed on voluntary redundancy with the employer now providing for an expression of interest for those who would like to take the redundancy terms.

Commenting on the current situation Gareth Murphy, Head of Industrial Relations and Campaigns with the FSU said:

“ The small move by the company on voluntary redundancies is welcome but we need to be vigilant to ensure this is a meaningful commitment by the company on a voluntary first approach to redundancy.

However, in a meeting with staff we have being informed by workers that they are understandably unhappy with two elements of the redundancy terms.

The redundancy terms currently on offer are :

  • 16 weeks’ pay plus statutory redundancy.
  • plus, one week pay per years which only comes into effect for every year of  service over five years.

In effect this means  the difference between a person working with Indeed for 3 years and someone working with Indeed 7 years would only amount to 3 weeks’ pay on the non-statutory element. Workers are rightly demanding that long service be better recognised by the employer especially given the contribution long serving staff have  made to the success of Indeed.

In addition to this staff are seeking the employer add a revenue approved retraining grant of €5,000 to the terms, which is normal practice and part of most redundancy packages. Given that Indeed as a Company prides itself on supporting workers  looking for new jobs and roles you would expect them to do the same for their own staff.

Indeed need to improve the redundancy terms particularly for long term staff and pay the retraining grant so that staff are better positioned for the job market post redundancy.”