So I might be retrenched

S

Sly21C

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Yesterday we had a staff meeting at the company I work for, our employers informed us that some of us might have to be let go because of cost cutting measures. I work at the head office of the company and there are about 20 staff members. Looking at my fellow colleagues and people that might be let go, I think I’m the 3rd weakest link and that scares me.

How do people handle retrenchment? I have enough money in the bank to support me for 2 months in case I get retrenched, which is not a lot at all I know.
 
You start looking for a job, thats what you do. Happened to me in the UK, I took something positive from it because I knew if I had been a more valuable employee, there would be no way they could afford to let me go. So, you start looking as soon as you can, you brush up on your CV and get in touch with agents. It can take a while to find a new job, so you need to be patient.
 
what he said.....start NOW!
Ancalagon said:
You start looking for a job, thats what you do. Happened to me in the UK, I took something positive from it because I knew if I had been a more valuable employee, there would be no way they could afford to let me go. So, you start looking as soon as you can, you brush up on your CV and get in touch with agents. It can take a while to find a new job, so you need to be patient.
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Ancalagon said:
You start looking for a job, thats what you do. Happened to me in the UK, I took something positive from it because I knew if I had been a more valuable employee, there would be no way they could afford to let me go. So, you start looking as soon as you can, you brush up on your CV and get in touch with agents. It can take a while to find a new job, so you need to be patient.
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So if you find a cool job then before getting retrenched you opt for voluntary retrenchment and get a nice payout as well.
 
So they gave no inclination as to how many staff they wish to cut? And what makes you think you're the 3rd weakest link?
 
One door closes and two doors open-thats how it works.Good luck.
 
Ancalagon said:
You start looking for a job, thats what you do. Happened to me in the UK, I took something positive from it because I knew if I had been a more valuable employee, there would be no way they could afford to let me go. So, you start looking as soon as you can, you brush up on your CV and get in touch with agents. It can take a while to find a new job, so you need to be patient.
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You're right, I will do that ASAP. Taking preemptive actions are better than reactive action, so I will look for a job.

TheGuy said:
So if you find a cool job then before getting retrenched you opt for voluntary retrenchment and get a nice payout as well.
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Really? How much of a nice payout are we talking about here?

Pavan said:
So they gave no inclination as to how many staff they wish to cut? And what makes you think you're the 3rd weakest link?
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No indication whatsoever, I came to that conclusion because the big project I was heavily involved in is now nearing its end and there’s no other project in the pipeline.
 
Well, maybe you can work for a little less pay, there is nothing wrong with taking a pay cut or working less days or something. Speak to HR.

But other than that, look for that next best oppertunity.
 
Sly21C said:
Really? How much of a nice payout are we talking about here?
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Depends on how nice your employer is and how long you've been working there. I'm not sure about SA because I was retrenched in the UK, but in the UK there is a legal minimum service length for compensation for being made redundant. Its like 2 years. However, my company gave me something that worked out to the salary they owed me plus about another month's salary on top of that, and I had been there for about 20 months. It really depends.

Start looking, but dont announce your resignation. DO NOT do that. Wait them to come to you. They might ask for volunteers to come forward, in exchange for a nice packet. You can then decide if you want to take the risk. They might skip that step though. Next step is telling you that you are being made redundant. If that happens, get a letter of recommendation and then carry on looking. Start now so that you get an idea of whats out there even if you end up staying. If you stay, you've lost nothing.
 
when you are retrenched its standard practice to get a weeks salary for every year you have worked there. Iv been retrenched twice, so I know lol. should it be you, that will give you a little more cash. resigning on the other hand pays nothing so dont do that unless they specifically offer money in return, and then as Ancalagon said, weigh it up

as the others have said, start getting your cv out there.

tighten your belt and start looking for ways to save cash- get rid of dstv etc

what do you do, if you dont mind sharing. there may be someone here who knows someone who knows someone.
 
Bud, if they let you go, then they don't know what they losing :). Keep your head down, work consistently and in the unlikely case that they do retrench - start CV whoring yourself every where :).

Keep your chin up though, won't do you any good if you fall prey to panic!
 
scotty777 said:
Bud, if they let you go, then they don't know what they losing :). Keep your head down, work consistently and in the unlikely case that they do retrench - start CV whoring yourself every where :).

Keep your chin up though, won't do you any good if you fall prey to panic!
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Agreed, but easier said than done.
a few months back, I had a criminal record check done which came back with possible matches...I thought it related to something about ten years ago and started to panic.
If it was confirmed, i would lose my job, and find it extremely hard to get hired somewhere else in my field. You realise just how fast things in your life can go out of control, and how fast you can lose some of the things that you took for granted.

Its a crap situation to be in, but i agree, dont give up hope, get ur C.V. out there and line up as much as u can
 
Sly21C said:
Really? How much of a nice payout are we talking about here?
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The company I work for was doing some restructuring etc. a while back and they offered voluntary retrenchment packages (subject to managements approval). I was not necessarily at risk of losing my job but inquired what was on offer anyway. Pretty good package imo - they'd pay you for the current month plus and extra 3 months plus 2 weeks for every year worked. At that point I ad been there for 2 and 1/2 years so my package would have been fairly sweet.

I applied but management declined my application. Apparently they considered my rather useful.
 
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