Yes, but theObserver is asking about the CGT liability.
Just to note ... I don't think that dependent relative relief will impact/eliminate any Capital Acquisitions Tax/Gift Tax . . . I believe that it only relates to an eventual CGT liability that might arise on an eventual sale of the property?
This seems low for a US multinational. It is the statutory minimum of €600 x (19.5x2 +1)If I am impacted I can expect a redundancy payout of €25kish for 19.5 years of service
Don't agree with this explanation, there was no real inflation in early 2020 at the start of the covid crises when the markets crashed. Inflation only became a factor in 2021 and 2022 and was largely sparked by the covid lockdowns cutting productive capacity but storing up demand.Well, why didn’t bonds hedge against the 2020 fall in the stock market?
High inflation is toxic to both bonds and equities so the ability of bonds to hedge equities depends on inflation being at a reasonable level.
They conducted RIFs for the last few years and paid out the legal minimum unfortunately. People in the States only received severance on the condition of signing a NDA. The new trick of these corporations is selling off entire business units, including the staff and contracting them back from the new company to avoid paying redundency. If you refuse the new contract, then its considered a resignation. The new company can then make you redundant without a large payout as you are a recent joiner, but most people I know in that situation left themsevles because their working conditions and benefits became worse in almost every way. I'm not sure how this is legal but it appearnly is providing your work location does not change.This seems low for a US multinational. It is the statutory minimum of €600 x (19.5x2 +1)
It would be very unusual that a US multinational would only give this as redundancy. I would expect that the minimum would be 2 wks/yr of actual salary. Or more typically it would be 3-6wks/yr.
Do you know anyone in the most recent layoffs that could give you an indication of what it is likely to be?
That may work in the US but I'm not sure that it would necessarily cut the mustard with Irish/EU employment legislation. TUPE etc.If you refuse the new contract, then its considered a resignation. The new company can then make you redundant without a large payout as you are a recent joiner
That's disappointing. One of the few "perks" of working for a multinational is the package is usually good when redundancies happen .They conducted RIFs for the last few years and paid out the legal minimum unfortunately
Knowing this, I wouldn't hang around for a €25k payout. If you were getting 4 weeks/yr and a >€100k payout then it might be worth hanging in there to see what happens.The job market is pretty harsh at the moment with wages dropping as the available talent pool increases and everyone feels the sword of Damocles dangling over their heads. If I am impacted I can expect a redundancy payout of €25kish for 19.5 years of service
With respect, €77k doesn't sound like a massive wage to be dealing with job insecurity and rapidly deteriorating terms and conditions and a 5% chance of getting sacked ever year which is probably adding up to a 50-50 chance of having a job in a few years time.Income and expenditure
Annual gross income from employment or profession: 77k
That was my thinking too. I updated my CV, joined Linkedin, created a network, practiced for interviews ... and realized my heart just wasn't in it. The average modern interview process in my field is four to five rounds and resembles an entire university course exam covering generic material I havent thought about since the 90s.With respect, €77k doesn't sound like a massive wage to be dealing with job insecurity and rapidly deteriorating terms and conditions and a 5% chance of getting sacked ever year which is probably adding up to a 50-50 chance of having a job in a few years time.
Sadly true. Most people I work with are in their 20's; there's very few people in their 50's and I can't think of one in their 60's aside from very senior level management.More stability for less money may be a better choice, especially as (according to what I've heard on the grapevine) ageism is sufficiently rampant in some sectors that getting dumped in your late 40s/early 50s may well mean that you can never get a job in that industry again.
Agreed. Until recently we could expect an above average package. I think they realized this only encourges people like me to stick around.That's disappointing. One of the few "perks" of working for a multinational is the package is usually good when redundancies happen .
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