TL;DR – He or she has been asked to be voluntarily retrenched due to COVID-19.
A troubled millennial has taken to Facebook page NUSWhispers to share his or her employment woes.
In the post, the 28-year-old employee shared that he or she has been asked to be voluntarily retrenched by the company in which he or she has been working with for the past three years, due to COVID-19.
To be retrenched or not?
If the original poster (OP) is willing to be retrenched, he or she will get about 4 months’ worth of salary as a retrenchment package.
However, if the OP chooses to continue staying with the company, his or her salary will be cut by 30% and there is no guarantee there will not be a second round of retrenchment.
The millennial, who is single with no financial commitment, shared that he or she is quite tempted by the retrenchment package as the money is “pretty substantial”. The money would allow him or her to buy many things that he or she has always wanted. For instance, a brand-new bicycle, laptop, branded clothes, or to go on a long break.
“Since I am young, I don’t think I have problem getting another job,” the OP added.
The post has received some advice from netizens in the comments section, mostly asking the OP to save up the money if he or she decides to be voluntarily retrenched, instead of splurging it on luxuries.
Some also urged for the OP to use the money wisely, for instance, take up a course, learn a new skillset or two.
Support For those affected by COVID-19
In case you didn’t know, in light of the global COVID-19 outbreak, a series of support measures have been introduced to help individuals in Singapore tide over the current difficult period.
As part of the Fortitude Budget, Deputy Prime Minister and Minister for Finance Heng Swee Keat had announced on May 26 that an additional $800 million will be set aside for the COVID-19 support grant.
The grant will cover individuals who have lost their jobs, are placed on no-pay leave, or will see their salaries significantly reduced in the coming months due to COVID-19.
Those who have lost their jobs can also receive employment and training support from Workforce Singapore (WSG) or Employment and Employability Institute (e2i). Individuals on involuntary no pay leave will have access to relevant courses subsidised by SkillsFuture Singapore as well.
Job seekers who require employment assistance can also look for employment opportunities on platforms as such the SGUnited Jobs Portal, MyCareersFuture.sg as well as the NTUC’s Job Security Council (JSC).
There is also the new National Jobs Council which will help create more jobs and training opportunities in the coming months.
And oh, by the way, here’s a kind reminder to all: Retrenchment packages or any other form of temporary relief is NOT for you to buy enjoyment. It is for you to tide through your unemployment period that might last longer than you expected.
You can read the original Facebook post below: