Kay Vittee, the CEO of Quest Staffing Solutions, says: "With salaries being a constant drain on the gross income that companies make, cutting down on the size of the workforce can ease this financial burden for companies that are battling to turn a decent profit due to economic circumstances."
But retrenchments are devastating for workers, with the physical reactions often including burnout, disturbed sleep and depression.
Vittee has the following advice:
• Do not go into denial. Pretending that you have not been handed the "dreaded letter" will not make it disappear. Be honest with those around you, and with yourself;
• It may feel unfair and you may want to know "Why me?", but it is a waste of your time. It is often the luck of the draw who gets retrenched and who survives the cut;
• If you have the resources, take this opportunity to further your education and build your abilities. Get a sense of the types of skills that are in demand and pursue them. You can also volunteer your services as a way of learning something new;
• Spend some time getting your CV up to date and make sure it makes you sound like someone a company would want to employ;
• Go online and check newspaper ads so you can apply for as many jobs as possible; and
• Get your former direct manager to give you a reference letter that explains why you were retrenched and highlights the value you added to the organisation.