With effect from 26 September 2023 the statutory cap on redundancy payments under the provisions of the Employment (Jersey) Law 2023 (the “Law”) will rise to £920 per week.
The figure has been increased pursuant to Article 60C of the Law in order to reflect increases in the mean average weekly earnings published by Statistics Jersey, the Government Statistics Unit.
The increase will doubtless be welcomed by those unfortunate enough to find themselves facing redundancy, but brings additional cost for employers having to adjust the size of their workforce.