Redundancy bill hits £4.4bn

REDUNDANCY payments totalled £4.4bn over the last fiscal year, the details of a freedom of information request reveal today.

The figure is only slightly down (by two per cent) on the previous year, as government sector cuts and a fear of employment tribunals continue to push up the level of payments.

In the last three years redundancy payments are calculated to have cost UK employers a total of £13.4bn, according to City law firm Wedlake Bell, which unveiled the figures.

Average redundancy payments reached £9,362 per person in 2010-11.