Could a redundancy be just what your career needs?
What’s the collective noun for a group of redundancies? A slump? A despondency?
We need a word because 7000 dismissals in September is a big honking one of whatever it is. And the gloom isn’t over yet – not by a long shot. People are feeling it across industries and experience levels.
Maybe that’s why workers are clinging to their jobs in greater numbers in 2025, even when those jobs fail to utilise their skills and education.
Mobility – that is, the percentage of people switching roles – has dropped from 9.5 per cent in 2023 to just 7.7 per cent this year, according to the ABS. And data about graduates consistently shows many people are sticking to an ill-fitting job for financial reasons since 2022.
And who can blame them? Seek data shows job ads are down 4.8 per cent year-on-year; the average time lag between a redundancy and getting a new job is 44 weeks.
Jobs are even being moved offshore amid redundancies – like at CBA, who’s been caught doing it by Fair Work.
So what are you supposed to do when the Grim Reaper comes for your career?
It depends on what stage you’re at.
If you have a dream and a half-decent redundancy payout, this might be the time to launch your own business. That’s what former banker Amanda Franklin decided to do when CBA cut her role at the end of 2024. She talks about that journey and her advice for others here.
Or maybe you’re thinking about a change or career pivot, in which case I’ll link you back to this piece by education editor Julie Hare on the jobs of the future that don’t require a uni degree.
And for the more senior crowd, my colleague Michelle Bowes has a four-point plan for anyone facing a redundancy after 50.
On a brighter note, I’m personally jazzed How I Made It is back and kicking with a great new episode this week on how Xero’s Rod Drury went from the first high school grad in his family to founding a $28 billion company.
🎧 Listen here now, on Apple podcasts, Spotify or wherever you get podcasts.
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Career Change Navigator 🧭 Guiding midcareer women to reignite their spark and transition into future-fit, fulfilling careers in the age of AI
1moWhile redundancy is tough, it’s also pushing people to rethink what 'career security' really means, and for some, it's creating their own version of it.
Career Coach, CV Writer & Recruitment Specialist | Supporting Career Growth and Business Success
1moAs a career coach and resume writer, many of my clients have faced redundancy. Some are delighted (usually the ones with a larger payout) but most come to me feeling grief. I have shared this article with some top tips to naviagating redundancy on my profile.
I talk with businesses and Governments about Smarter Planning & Supply Challenges
1moRedundancies are a fact of life for career professionals now. I've had 3. Once whilst getting cancer treatment at ALSPEC executed over email. Bob Barraket Continue to invest in yourself, your education, your value and your brand. Matt Comyn 'needs' another investment house. At the expense of a whole floor of staff at Commonwealth Bank . Should we do another soft-ball interview with another banking leader The Australian Financial Review ?
Principal Fellow, Melbourne Business School | Owner & Director, Windlestone Education and Consulting
1moA collective noun for 'redundant' is something of a non-sequitur. Redundancy itself is kind of a weird word in the context of lay-offs. It seems somehow perjorative and dismissive.