Retrenchment support group

[windwaver]

which bank is retrenching?

Banks don't let go of staff only when economy is not doing well, it's usually an ongoing process.

That's why there a saying, it's a 'cut-throat' industry.

 

[windwaver]

pharma industry, 1mth / year of service. retrenchment due to cutting cost in certain areas globally

got paid 8 months worth of compensation almost 100k.

found another job at 5% increment within 2 weeks. so not sure why lazada people so sad.

sometimes it is better to get retrenched (compensation + increment if found new job outside) than stay in the old company and take over more workload with no extra money

Wow, pharma sounds good bro.

Are the working hours ok? FIs are notorious for long hours.

 

[windwaver]

After kana 2 retrenchment.... You never think it's something wrong with your work performance?

Bro, 2 retrenchments at late 40s is nothing.

 

[windwaver]

Might be performance, might be EQ.

Sometimes the boss ask the pet dog which one fire then the pet dog anyhow point also possible.

If based on last time logic retrenchment then yes. But now I feel earth too overpopulated and globalised. Even if you do nothing wrong, whole department can be made redundant and shift to cheaper countries. Businesses are just addicted to cheap labour and cutting down a lot on middle management.

But my sensing on TS is that he has little to worry about and has his figures all figured out (pun hehe). He seems like those 10k/mth high flyer so we better take care ourselves first before worrying about him.

There are a lot of politics involved on who to let go, trust me, it's more complicated than performance.

 

[theMKR]

Seems like quite a number in the past few months.

I'll start
Late 40s. Let go last week. Financial sector. Married with kids but no more loans so not that stressed in terms of financial.

Will take at least a month break to clear my mind and enjoy a well deserved rest. Then look for job after CNY

Was my 2nd retrenchment by the way

tia gong your industry is work 5 years, earn 20years of normal ppl. izit true?

 

[luohongxian]

Young and broke lor

年轻就是本钱。

 

[windwaver]

Electronics Manufacturing. Mid 40s.
Almost half a year since kena retrenched, rest for a month and now working contract based job.

Still deciding going full time or contract based, not feeling to be competitive anymore, just want peaceful and not stressful work

Me loh, I left for a more peaceful job, took more than 50% paycut

 

[windwaver]

You’ll tell yourself it’s ok when it happens

But when you see the bank balance dwindling and job prospects being bleak (particularly when you’re in a small and niche sector with limited opportunities), you'll start panicking

Go work part time, wouldn't die lah.

Health issues will die.

 

[windwaver]

Dk if I am consider retrench or maybe close to it?
Boss openly told me last year Oct to find a new job but too bad year end all go on holiday.
Now new year things dun realli look so good as well.

Just got rejected a few roles even there r transferable skills. >.<
Thinking to go back to banking but looks like very hard since I left banking 5 years ago to fintech.

Some companies don't retrench, they'll ask you to resign way before time is up.

Reputation.

 

[windwaver]

Even those survive the retrenchment, their days won’t be goot either.

still have to tank others workload.
Ends up working longer hours.

Yeah, I did that before, in the end also cannot take the load lol.

 

[windwaver]

How did they announce to you? Face to face or via email? I think many coy got no ball to tell face to face because they scare ppl like short temper.

Mine was boss told me nicely over a 1 to 1 meeting.

Heng liao loh, some kena escorted out of office by security.

 

[theMKR]

Me loh, I left for a more peaceful job, took more than 50% paycut

moi also took more than 50% pay cut, nao moi take home pay ish lesser than household expenditure

duno when then can go back to the correct pay

 

[andyhtc]

Electronics Manufacturing. Mid 40s.
Almost half a year since kena retrenched, rest for a month and now working contract based job.

Still deciding going full time or contract based, not feeling to be competitive anymore, just want peaceful and not stressful work

Peaceful = Public/Civil service or funeral service.

Very high in demand = Healthcare and social services.

 

[LWZ]

Pretty niche. Hopefully will get leads from contacts in the industry. Just that I haven't told many yet. Don't think will have an issue finding a job but need to prepare for a pay cut at my age.

Should be in reasonable demand especially experience hopefully counts for something

So what happened to the work you used to do for your last employer ? Did it get re-allocated to someone else, outsourced or just done away with entirely ?

 

[titusilvering]

Bro, 2 retrenchments at late 40s is nothing.

Heng i never kana b4.

 

[matchy]

getting harder in SG

 

[neo_aw]

Seems like quite a number in the past few months.

I'll start
Late 40s. Let go last week. Financial sector. Married with kids but no more loans so not that stressed in terms of financial.

Will take at least a month break to clear my mind and enjoy a well deserved rest. Then look for job after CNY

Was my 2nd retrenchment by the way

Bro I tot banks earning gao gao

 

[LWZ]

But my sensing on TS is that he has little to worry about and has his figures all figured out (pun hehe). He seems like those 10k/mth high flyer so we better take care ourselves first before worrying about him.

at least 20k/mth I reckon lol

 

[DarkStarer]

I not gcp how to find golden tortoise

You mind if he recently retrenched?
But he have fully paid house and CPF got about 300k. Enough to buy love nest.

352k 47 years old

Late 40s. Let go last week. Financial sector ..... but no more loans so not that stressed in terms of financial.

 

[JakePeralta]

Go work part time, wouldn't die lah.

Health issues will die.

Correct

Had the mental or ego baggage initially (younger Jake Peralta was an high-flying VP).

Overcame it and did some part-time work that I never knew would be an option at that point of life.

Dark times, but took away a lot of lessons