May 19, 2022

How To Approach Being Downsized From Your Job

Becoming unemployed often means more than losing your job. As the initial shock begins to wear off, you may very well start to experience emotional and financial stress. Worse yet, as this stress builds within you, your unemployment may affect your relationships with family and friends. The longer unemployment lasts, the greater the stress may become. If you are to survive, you need to read these 7 steps on coping with unemployment stress.

One more thing … try to be original. Yes, I’m sure you really do like the outdoors and want to meet someone who looks good in a tux and in jeans, but so does everyone else! Tell us some things about yourself that wouldn’t necessarily come out in an elevator conversation with your tax accountant. For example, what are you passionate about? What would you do if no longer had to work for a living? What’s your favorite flavor of gelato? Do you secretly wish everyday was sampling day at the grocery store? … now it’ getting interesting!

After my hospital stay I spent a week at home recuperating and trying to adjust to a new lifestyle. The following week I went back to work expecting to continue where I had left off. Was I in for a surprise, when I arrived I was met at the door by the owner. He shook my hand and gave me a hug and informed me that he was going out of business that day. No arbetsdomstolen, no thank you, no gold watch for 28 years of building his business, nothing! I was devastated; this was a job I had worked for more almost half of my life!

If you read this column in the last edition, you will recall that I said I was owing close to N30 million coming to year 2001. But that was only part of the story. The other part of it was that as at April our business was free Labour Court from any kind of debt burden. In fact, we were not operating with bank facilities and our credit rating with our suppliers was very good.

That depends. Generally speaking you must be terminated reasonable severance pay from your job through no fault of your own meaning you were part of a layoff or the company closed down or your job was eliminated. However, in individual circumstances this can be a gray area. The best way to determine your eligibility is to simply file a claim. If you’re denied they will tell you why and you can dispute it you feel it’s an unfair determination. In some cases, where a company’s used minor infractions to justify a firing, they won’t dispute your claim.

For as the Bible says, “As a patridge that broods but does not hatch, so is he who gets riches, but not by right; it will leave him in the midst of his days, and at his end he will be a fool.” (Jeremiah 17 : 11).

I began searching for a way to create income that would not require me to work for someone else. I failed, even after all the money I invested in information, reports and software, I still had nothing to show for as far as income.

Unemployment is not the end of the world. Do not lose hope. There are plenty of ways to save your homes. But take note, you cannot accomplish this alone. Get through this hardship with the help of your family, friends, lenders and the government. It also pays to know your benefits.