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Income Protection and Redundancy for Australian Employees

Each year, 2.3% of Australian workers are made redundant because of corporate downsizing and closure (Back to Work Australia report 2016). If you feel your job is vulnerable to restructuring and you’re searching for ways to protect yourself and your family from financial uncertainty, then review your options in the below article.
Fact Checked

Updated: 28 May 2024

Redundancy occurs when an employee loses their job because the employer no longer requires the job to be done or can no longer pay their wages and entitlements. The job itself becomes redundant, not the employee.

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