Work It Podcast: Early signs your company is retrenching

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Retrenchment Noticias

Layoffs,Job Loss,Work It

Noticing some restructuring, cost-cutting measures, or freezing of increments? A retrenchment might be on the horizon, warns our guest on the Work It podcast.

Looking for a job or trying to nail it at your current one? Host Tiffany Ang and career counsellor Gerald Tan help navigate your important - and sometimes thorny - work life questions.Dyson employees were recently “surprised” by a layoff announcement. But are there visible signals that a retrenchment exercise is coming? How can you tell if your name is next on the chopping block?

But in that sense, you have to ask yourself, why are they doing these things? Why would they not want to give an increment that they've been giving every year for the last 10, 20 years? Why are they freezing pay? Why are they freezing hiring? And I think this is where employees not react immediately and instinctively but try and get more information from the company as well.You mentioned the point,"Why me?" So, from your experience working with companies, when the company has decided to go for the retrenchment exercise, how do they usually decide who to cut first?So usually, what companies will do is they will look at the functions that may not be necessary or essential for them to move on.

 

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