According to Telegragh on 17Nov2014, 55% of young people can be expected to be made redundant during their career. This means you can not count on a permanent job remaining permanent.
If you are made redundant you can get statuary redundancy payment from the government but, to qualify you need to have worked at the company for 2years. Under 30 you get 1 week wage for every year worked at company. Over 40 you get 1 and half week wage for every year worked at company. Therefore younger people get less as under 30 and have had less time to build up years service. If you do get redundancy payment it helps give you breathing space but, have some saved for a rainy day is also a good idea.
From personal experience, I know redundancy can be devastating. It is worrying how going to be able to find self. You have to go through stress of applying and interviewing for new jobs. If you do not work for a while then, not having structure of working can be unsettling. You may also miss your colleagues. Lots of people have said, redundancy will be the best thing that has ever happened to them; so far it is not for me. People do use it as an opportunity to change life and if got redundancy payment they can be put towards new future.
Is this something you have experienced?
Wonderwall 