Redundancy

Occurs where a business no longer has use, or can no longer sustain, a particular position within the organisation. This is not a sacking/termination, nor a resignation. Often businesses may offer redundancy packages, which are financial incentives to staff to voluntarily leave the business, which may allow employees to self-select who leaves, rather than being pushed into a forced redundancy. The business cannot re-fill the same position within the business without a significant change, (such as increased turnover which justifies filling the position).