I sincerely hope that you’re reading this out of an abundance of caution to prepare for any possibility, and not because you were actually retrenched or furloughed. If it is the latter, my first message is to stay strong, keep your spirits up and know that this too will pass. Rather than tackle the aspects of employee rights in a retrenchment like some articles, I wanted to focus on the financial aspects of building up defenses early if you’re employed, the steps to optimise your financial situation if you are laid off and ideas to get through to the other side.

I’m employed but worried having read news of all the job losses

If you’re reading this just in case, congratulations. Preparation is half the battle won. Focus on these following areas:

• Keep calm, and focus on doing your best at work;
• Build up your emergency savings fund. If you haven’t started, time to really put cash aside is now. If you have one already, time to build it up

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