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Originally Posted by Unregistered
The situation really depends on the level of career you are in. For jr manager & below type of jobs (roughly <250k p.a.) is particularly dangerous especially if you are in mid to late 40s. Once you get retrenched its more or less game over as employers tend to prefer younger candidates who have the energy and potential to grow. This sort of level also has plenty of cheaper candidates in developing countries.
For the middle management level (~250-600k p.a.) things tend to get a bit better as this group usually has strong professional network / standing and some sort of expertise be it technical or corporate so they tend to find it easier to get another job even if retrenched. The seniority of their job also makes it harder for employers to find fresh grads or youngsters to replace.
For the executive level (>600k p.a.) they are usually very safe, in fact even safer than a young fresh grad. The pool for this group is so small and the jobs are so global in nature that demand often exceed supply. For them its more about whether they like the company, feel empowered or feel interested in the work itself. It's an elite old boy's club where they rub each others back, sit on each other's company as directors or advisors and look after one another.
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My experience is whether you are a junior manager or a middle one, as long as I can find someone to fill in that role at half the salary you are commanding, you are as good as dead to me. Some recruiters has strong ties with the companies, they may also advise companies to lay off expensive pple and fill them in with cheaper ones. There is no guarantee that things get better for people with 'strong professional network' because times are ever changing. Many young people have good networks, yes business relationships are important but it is not all. Unless you are a brilliant talent with super niche skills (oil drill engineers, software developers (local) or solutions architect), i think you will be easily replacable.
I have spoken to marketing, HR and finance people who got retrenched and they were merely earning slightly over 12 to 15k per month. Some AVP or senior AVP are in the same shoes, u think the companies care if you have 'networks', everybody has 'networks', and many people prefer hiring someone who's actively building close relationship than sporadic ones. My colleague from India told me that whatever roles you can think of in India, there will always be someone better and cheaper. The same is happening here in Singapore. Finance industry in particular don't give a **** if you are local a not, unlike other sectors.