Up to 66 jobs are at risk at Neutrik’s factory on the Isle of Wight, potentially cutting the workforce by almost 60%, Island Echo can reveal.
Staff were made aware about the potential for redundancies last week – just 14 months after redundancies were last made.
Neutrik, based at Cothey Way, specialise in the manufacture of innovative electrical and electronic interconnection products and systems.
63 positions are earmarked to go from the production department, with a further 2 jobs at risk in the operations department. 1 job could be lost within sales. If the redundancies go ahead, the workforce across the 3 departments will fall from 113 to 47 – a reduction of 58%.
It’s said that if circumstances change significantly then fewer redundancies may be made than is currently anticipated.
Letters are due to go out to all staff members at risk in the next 48 hours.
Island Echo approached the company for a statement on Friday but no response has been received at the time of publication – as per the previous article in 2019.
What are my rights?
If you are made redundant you are normally entitled to statutory redundancy pay if you’re an employee and you’ve been working for your current employer for 2 years or more. Your redundancy pay will be:
- half a week’s pay for each full year you were under 22
- 1 week’s pay for each full year you were 22 or older, but under 41
- 1-and-a-half week’s pay for each full year you were 41 or older
If you were made redundant on or after 6th April 2020, your weekly pay is capped at £538 and the maximum statutory redundancy pay you can get is £16,140. Length of service is capped at 20 years. Redundancy pay (including any severance pay) under £30,000 is not taxable.
You must be given a notice period before your employment ends. The statutory redundancy notice periods are:
- at least 1 week’s notice if employed between 1 month and 2 years
- 1 week’s notice for each year if employed between 2 and 12 years
- 12 weeks’ notice if employed for 12 years or more