The Looming Clouds of Retrenchment – Are you ready?

A close colleague of mine told me recently that one of the Multi-National Companies has closed down an entire department. She used to be working there so many of her ex-colleagues are now looking for a new job. I have also been reading Unintelligent Nerd’s blog and it appears that his current employment is unable to offer job stability despite being in an 铁饭碗 or “iron-rice bowl” (which practically means close-to-zero chances of closing down) organization :O.

It is very upsetting to me because sometimes in life, such things aren’t within much of your control. Sometimes, taking away a job from someone is almost equivalent to taking away his life. Not every one is lucky enough to pursue a degree. Not every one is lucky enough to be debt-free when they graduate. And most importantly, not every one is lucky enough to be in good health to find a new job.

It is unfortunate that news like this is unsurprising to me. Retrenchment has already become a common concept to me and I have seen my own colleagues being retrenched due to various reasons. On the top of the list lies “cost cutting”. Following closely behind at Number 2 would be “redundancy”. It makes me wonder as to why there is even that redundancy in the first place.

But well, I’m just a junior engineer drawing a reasonable salary, performing her normal duties as per usual. Who the hell am I to question the capabilities of the management? They have been in the company for so many years. Surely they must know what is best for the organization, eh?

I’m not going to deny that I haven’t thought about it. I always imagine a day when my boss summons me to his office and tells me to f*** off because of bad performance. He passes me a super old cardboard box which Garung Gunis (rag-and-bone men) collect and asks me to pack my things and leave immediately.

cardboard box.jpg

*sobs sobs* I deserve better… 😥

Although the chances of it really happening are low, it is still important to consider what I might do should that day really comes, because you just never know when shit might happen. Fortunately, I do have a back-up plan which I can take, and that plan can materialize into something that becomes a full-time career for myself. In addition, I would transition from being employed to self-employed. I’ll be my own boss. Woohoo!

No lah. I’m not going to turn into an insurance agent/financial consultant. I don’t think I’ll be a good one anyway. I’ll only introduce term policies, so I probably wouldn’t earn too much from commission fees as compared to my peers.

I do very much hope, though, that I do not have to make this transition. As much as I love my part-time commitments, I love what I am doing now as an engineer even more. And it makes me happy. Being happy surpasses anything else.

It is also part of my due diligence that I will never give myself a chance to be part of my bosses’ “R” list. I am always looking to create value in my work and myself so that it would be harder for him to justify why he should consider me over someone else. I hope I am doing the right things…

What about you? Will you be ready should a similar day as such comes?

Thanks for reading!

Miss Niao xoxo

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Author: missniao

Hello! I blog about financial matters and things that average people can do to have a better retirement. I want to inspire people to take control of their money and have a better understanding about it. If you are interested to know more, follow me @ missniao.wordpress.com! :)

7 thoughts on “The Looming Clouds of Retrenchment – Are you ready?”

      1. Sometime the whole department or function being relocated or outsourced or close down. It doesn’t matter we are the smartest and most productive ones; we are out with the rest of the team and most likely on the same term.

        Liked by 1 person

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