Had a lot of uncertainty as my company was finalizing the corporate strategy over the last few months, and it was finalized a few days back.
The result? A retrenchment exercise a few days earlier. It's my first experience of seeing colleagues just disappearing from office. A call from a conference room, a chat with the line manager and HR, and off you go. Sounds cold and harsh but that's the way it is. Office appears colder and quieter in the aftermath.
Supposedly the package offered is reasonable. Not very sure, as the 'chopped' workers did not return to their desk to speak with us after the conversation with HR.
Had a couple of thoughts going through that day.
(1) Wonder how those foreigners on employment pass cope - without a job, they need to leave the country in a month's time.
(2) Grateful that I wasn't on the redundant list
(3) If i was made redundant, how long would i need to get another job in these economic climate?
Guess it was at thought (3) that it really strikes home that you really need to have a buffer of emergency cash in case an unfortunate incident happens (even though there's a redundancy package). Also, multiple source of income is crucial. We should not be overly reliant on 1 source of income, or an employer, and having adequate reserves is most important.
Ultimately, my wealth is my business. No one cares about my personal finances more than myself.