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Your post is a bit confusing. The job you have now is not Branch Manager? Is your new job a good one, with a good company, and stable? Does the job stimulate you more than being a Branch Manager? Is there more growth opportunity? Are you learning new skills?
There's so much more to deciding between jobs than just pay and commute.
I'm also curious as to why your former company is requiring you to *apply* for the job you already had, rather than just offering it to you. That's at least a yellow flag if not a red one.
All that said, I don't see harm in following up with your former company if you really would like to go back. But give it a lot of thought.
This really depends on why you were laid off and how long you were with your previous employer. Also, the fact that they want you to “apply” again doesn’t necessarily mean this is a guaranteed rehire situation.
You’re right to question the long-term stability. If they do offer you the position back, you have to consider what assurances, if any, you would have that another layoff wouldn’t happen again.
At the same time, your current job is a significant pay cut with a long commute, so there’s a lot to weigh financially, professionally, and personally before making a decision.
I wouldn’t, personally I think boomerang hires are a bad omen 95% of the time - unless you loved the role, the people, the pay - everything about it.
But I’d also be asking for: a sign on bonus, I’d negotiate my severance package up front, definitely a higher salary and try to get extra vacation too.
I’d be asking for 65k, a 10k sign on bonus, an extra week of vacation annually and continued benefits, plus 4 weeks of termination pay at a minimum. Then you can see how serious they are about bringing you make.
Make sure to highlight that you can pick things up tomorrow, you know the people, systems, tools, processes, etc. because you had the job 45 days ago.
Do work works best for you - but you absolutely MUST negotiate your offers. Get what you deserve, good luck - you got this!