Global economic crisis = layoffs... need advice

[aussie80]

Hey Guys,

I relocated to Singapore just over 2 months ago for a job, but since the ass has fallen out of the global economy I'm probably going to be laid off in the next month or so.

Having pulled up my life and moved here, signing a two year lease (with 12 month diplomatic escape clause) and signing contracts for a mobile phone, cable internet, and tv... this is a pretty scary prospect.

Rather than freak out I figured I'd get some insight from you all here. Have you been in this situation before? If so, how did you deal with it? I really love living here and I'd prefer to stay if possible, however I have no idea how to go about sorting out another job/EP or what my options are if I'm forced to go home.

Any sensible input on how to deal with this situation would be very much appreciated.

Cheers!

[sundaymorningstaple]

Hopefully, you had the sense to have a contingency plan. It's not like this economic thing has just dropped out of the sky. It's been 6 month of sub-prime debacle world wide with numerous banks having problems. The writing was on the wall 6 months ago and it was just a matter of when, not IF.

Never burn your bridges, but it looks like you may have done just that.

If you salary was high enough and you worked for several years back in your home country, you could possibly try for something like the PEP type of pass. But, take if from who who weathered 15 months of unemployment here in 2004-05, it ain't easy.

[aussie80]

Yes, I do have a contingency plan - in the form of severance and savings

I'll have no trouble finding work back home in Australia, but I'd rather stay here since I've already made the move. It's not like I ran into this without knowing the risks, however I came under assurances from my employer that the market wouldn't affect my position here. It was international transfer from a foreign office.

The advice I was after was:

* how to go about working with my landlord to dissolve the lease and what my options in that regard are (if worse comes to worse)
* how to go about engaging new employers and finding another job (once again, if worse comes to worse)
* the words of wisdom from other expats who may have found themselves in similar circumstances in the past.

[durain]

* talk to your landlord. if you are out of a job and cant pay the rent, what does the landlord want you to do? sell your kidney to finance the rental? the contract is between you and the landlord, so the landlord might be more understanding in your situation.

* how do you look for a job in your home country? should be no difference wherever you are.

* been there, done that, seen it all before. life goes on. everyone is in the same situation. it's a global thing, so dont take it personally.

[aussie80]

Hey Durian, thanks for the feedback.

My landlord is a reasonable guy and we have a friendly relationship, I'm sure we'd be able to come to an agreement that was mutually beneficial. I think I lucked out when I chose this condo, he's just a cool, regular guy. Hearing horror stories of tenants being taken to court by evil landlords does make me a little nervous, though. I'm not prepared to pay out the term of the lease in order to leave.

Cool, I'll keep your advice on the job hunt in mind. Do you know of any resources or agencies in the particular that work with expats to find placements?

Haha yeah, I'm not getting emotional about the whole thing. I just want to get through it and come out the other side in a position where I can continue to enjoy life here in Singapore and work towards my goals.

Thanks again for the advice. Appreciate it.

[ngkahhui]

probably if you really lost your job

you could try to utilize your saving

such as move to cheaper house rather stay in pricey house

and spend sometime to get a new job!

for sure you would able to get one
by the way which industry you are in?

[aussie80]

Hey ngkahhui, good suggestions

I work in software development, currently as a senior engineer/outsourcing manager/trainer

[ngkahhui]

hey aussie80

softaware industry should be easy to get a job.

if you really scare lost a job perhaps you could try start to look a more stable job but again dont expect big package..



just my 2 cents

For sure you could stay in Singapore... as it is a wonderful island!

[sillingw]

for your apartment, try and find another tenant, it will put you in a better position with the landlord if you can get someone to take over.

for the job, PM me