The crippling cost of job loss: How to cope

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'There was nowhere to hide, unlike when I was diagnosed with cancer, when I used to go to churches and just crumpled up in corners to cry.'

The name itself sounds like that of an ancient plague—metathesiophobia, the fear of sudden change—and until recently, most Filipinos did not suffer from it. It was not even the new coronavirus disease or the quarantine that followed which triggered it; it was the storm surge of lost jobs that did.

Maxine , 51, had been with ABS-CBN even longer, since 1997, and was already an executive producer for one of its divisions. “ABS-CBN was our home, and I thought I would stay until I retired,” she said. The pandemic claimed jobs from all levels and industries, from call center agents to carpenters, vendors to massage therapists. The companies which could shift to a work-from-home setup did so almost immediately, but for many, it wasn’t enough.

“The individual would immediately experience fear and anxiety. Being removed from one’s job, short- or long-term, can be overwhelming and can trigger strong emotions and reactions,” Pascual said. It would help if the companies communicate openly with their employees and provide psychosocial and financial support. A support system from friends and families is crucial because there is so much to worry about.

Randy Feria is chief investments consultant and owner of IN3 Investment Consultant Services. “If the company provides retirement pay, then this gives a little cushion to the financial impact, because the individual can still expect some salary for a month or so,” he pointed out. “It gives them time to search for another job opportunity.

 

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