Singapore Airlines Cuts 4,300 Staff

Recently, there’s a huge news about our national airline, Singapore Airlines (SIA), having to layoff a huge number of employees from their headcount due to the ongoing COVID-19 pandemic.

About 2,400 staff in Singapore and overseas will be retrenched, while the remaining 1,900 roles will be accounted for through natural attrition, a recruitment freeze and voluntary-departure schemes.Straits Times

First of all, my heart goes out to everyone who has been adversely affected by this retrenchment exercise and I hope that you will be able to get through this quickly.

This episode reminded me how important it is to always keep ourselves vigilant, even when everything seemed peaceful and smooth.

Since we’ll never know when our income will be hit, it’s time to prioritize building up our rainy day fund over our shopping and leisure fund. Most financial experts suggest that we should set aside at least 6 months of expenses, so that when we suffer from a sudden loss of income, we have sufficient backup to tide us through.

Also, it’s a good time to think of how we can build up different streams of income. Income streams such as, doing side hustles, investing, and collecting rents.

Jobs will always have a bad reputation. They are long hours. They don’t pay well. They are boring. But while we are intoxicated by these negative sentiments, we tend to forget that they also provide us and our families shelter, clothes, and food.

So whether you like them or not, try practicing some gratitude. That, I assure, will serve you well whatever your future endeavors may be.

Take care my friends. And be safe.

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