Haiz...retrenchment letter? :(

[Voodooman]

On 3/6/2024 at 11:54 AM, Throttle2 said:

R = Rich

 

i know

I wish I am rich, won't be always counting beans. 

[Throttle2]

https://www.channelnewsasia.com/cna-insider/rise-layoffs-insiders-disclose-companies-workers-retrenchment-exercises-contracts-4180936?cid=braze-cna_CNA-Morning-Brief_newsletter_10032024_cna
 

some of these folks still so naive about retrenchment

 

 

[Sosaria]

Now is a good time to be retrenched actually. Receive benefits, take a break and then hop on the next job through the many reskilling training and job placement schemes nowadays. If one is flexible and not choosy.

[Benarsenal]

On 3/10/2024 at 7:42 PM, Sosaria said:

Now is a good time to be retrenched actually. Receive benefits, take a break and then hop on the next job through the many reskilling training and job placement schemes nowadays. If one is flexible and not choosy.

Retrenchment not always have benefits hor

[Throttle2]

On 3/10/2024 at 7:42 PM, Sosaria said:

Now is a good time to be retrenched actually. Receive benefits, take a break and then hop on the next job through the many reskilling training and job placement schemes nowadays. If one is flexible and not choosy.

Anytime is a good time. 😃

go for it 😙

But take note,most people past 50 cant survive it

[Sosaria]

On 3/11/2024 at 11:36 AM, Throttle2 said:

Anytime is a good time. 😃

go for it 😙

But take note,most people past 50 cant survive it

My company don't want to retrench me. In fact assignments and projects keep piling up and busier than ever with heavier responsibilities. How to stop?

Nobody want to stop work by resignation. That's too much like quitting.

Prefer stop work by retrenchment , at least easy to explain to others.

 

Edited March 11 by Sosaria

[13177]

On 3/11/2024 at 2:39 PM, Sosaria said:

My company don't want to retrench me. In fact assignments and projects keep piling up and busier than ever with heavier responsibilities. How to stop?

Nobody want to stop work by resignation. That's too much like quitting.

Prefer stop work by retrenchment , at least easy to explain to others.

 

Your company maybe indirectly wants you to resign by giving you too much work if you cannot handle it?! 😅

[inlinesix]

Job Opportunity

https://www.xiaohongshu.com/explore/65ed2e5d000000000d00f58e

[Spidey10]

On 3/11/2024 at 11:36 AM, Throttle2 said:

Anytime is a good time. 😃

go for it 😙

But take note,most people past 50 cant survive it

indeed...

[Victor68]

Lay off or the better sounding word retrench most times have nothing to do with one's performance. Company not doing well, cut to save cost but may not be the most expensive nor the most inefficient workers.

Sometimes cut is to renew, next minute they employ new staff. Never rely on Union lah, unless you are one of those factory production workers where they retrench in 100. 

Worst is when you over commit, like just bought a new condo. Otherwise, always plan with at least 1 year cushion with a pay cut of 50 %. We have to live with this, there is nobody there to help you. Therefore, forget about loyalty and make sure you get what you deserve. 

Edited March 11 by Victor68

[BanCoe]

On 3/6/2024 at 2:02 PM, Voodooman said:

I wish I am rich, won't be always counting beans. 

Boss you missed Preambree Tree lust time... must have been " over promoted" to Preambree For straight  ...... Neber heard of Jack n the Bean stalk eh?? 

[Stary]

During my corporate days, I look at job as a mere transaction;  I put in the work, the company pay me a wage.  I have the right to resign, they have the right to retrench.  I don’t expect them to give me a reason, just as I m not obligated to give them a reason if I were to resign. 

Thats all.  I don’t understand why pple nowadays make retrenchment sounded like some form of complicated therapy. 

Edited March 12 by Starry

[13177]

On 3/12/2024 at 10:29 AM, Starry said:

During my corporate days, I look at job as a mere transaction;  I put in the work, the company pay me a wage.  I have the right to resign, they have the right to retrench.  I don’t expect them to give me a reason, just as I m not obligated to give them a reason if I were to resign. 

Thats all.  I don’t understand why pple nowadays make retrenchment sounded like some form of complicated therapy. 

Nowadays company also have the right to terminate you according to the employment contract, not necessary only can retrench you.

[inlinesix]

On 3/12/2024 at 12:58 PM, 13177 said:

Nowadays company also have the right to terminate you according to the employment contract, not necessary only can retrench you.

When did the Company not have the right to terminate?

😂

[13177]

On 3/12/2024 at 1:08 PM, inlinesix said:

When did the Company not have the right to terminate?

😂

If company terminate you with notice which states on the employment contract then have the right. But if anyhow terminate or sack then might not have the right liao.

Edited March 12 by 13177

[Sosaria]

On 3/11/2024 at 4:19 PM, Victor68 said:

Lay off or the better sounding word retrench most times have nothing to do with one's performance. Company not doing well, cut to save cost but may not be the most expensive nor the most inefficient workers.

Sometimes cut is to renew, next minute they employ new staff. Never rely on Union lah, unless you are one of those factory production workers where they retrench in 100. 

Worst is when you over commit, like just bought a new condo. Otherwise, always plan with at least 1 year cushion with a pay cut of 50 %. We have to live with this, there is nobody there to help you. Therefore, forget about loyalty and make sure you get what you deserve. 

If you had just bought something expensive, that's the worst time. Car at least can dispose fairly easily, sell and clear off the loan. But condo or property is harder to sell off at short notice.

[Stary]

On 3/12/2024 at 12:58 PM, 13177 said:

Nowadays company also have the right to terminate you according to the employment contract, not necessary only can retrench you.

Usually termination is reserved for more serious issues and reason should be given. Otherwise most pple will complain for wrongful or unreasonable dismissal.  

[Scion]

On 3/12/2024 at 1:27 PM, Sosaria said:

If you had just bought something expensive, that's the worst time. Car at least can dispose fairly easily, sell and clear off the loan. But condo or property is harder to sell off at short notice.

 

that's when the property fire sales came in during the severe recessions like 97/98 and 08/09...

bosses were going bankrupt, staff were getting retrenched