Some 30,000 workers are expected to lose their jobs in Malaysia this year. So far, 30,000 are on shorter workweeks. Companies are freezing wages and stopping recruitment. All signs point to an increasingly bleak economic outlook in the coming months. The fact is that, slowdown or not, companies have to keep on shedding lower-skilled staff as they restructure up the value chain to be competitive. Facing a layoff is fast becoming more and more a real prospect for many Malaysians. In this new and unpredictable job market, job security has gone the way of the dodo. To keep your job, you need to work smart. Do whatever it takes to make sure you're crucial to your company. But also have a plan, in case somebody thinks you're not so crucial.
If the worse happens, and you do lose your job in a retrenchment exercise, one of the first things you need to do is to examine your financial situation. Look at your resources and expenses. Check your contract to make sure you get your benefits. To know more about what your rights of employment or termination are, you can refer Human Resource Department (Jabatan Tenaga Kerja Malaysia) will answer your questions on workplace problems.
Then remember, life goes on. There are still many jobs out there, and more jobs being created everyday. Believe it or not, losing a job can actually offer an opportunity, as there is always a better one out there for you.
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