Redundancy is also an opportunity to sit down and take stock of your career is going and what you'd like to do next. That might mean a complete career change or going back to college to enhance your qualifications – something you mightn't be able to do without that redundancy payment.

What are the positives of redundancy?

By far the biggest advantage of offering voluntary redundancy – and even compulsory redundancy – is to save costs. Reducing your headcount lowers your costs and can stave off business problems if you're financially struggling.

Can being made redundant be a good thing?

Being made redundant without warning can be a truly stressful situation to be in – your confidence takes a hit, your future seems uncertain and you may be worried about your finances. Whilst you may be hurt, angry or scared about being made redundant, it can be a good thing!