Last week the CIPD reported that the average cost of making someone redundant was £10,000. Being an average figure some people are receiving much less and some much more than this amount.

Thus, an employer making 150 people redundant using this figure will have to find £1,500,000 (average). The costs may be a reason why unemployment has been rising slowly to date.

This entry was posted on Monday, November 3rd, 2008 at 7:29 am and is filed under Costs of executive failure, Financial downturn.