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Talks organised to help families cope with financial dow</font>nturn
By Dominique Loh, Channel NewsAsia | Posted: 08 January 2009 1816 hrs
Talks organised to help families cope with financial downturn
SINGAPORE: As many as 15,000 unionised workers are now working shorter hours and work weeks since November last year.
The National Trades Union Congress (NTUC) said this development is not unexpected as companies face up to the realities of a global economic downturn.
On the bright side, it said retrenchment did not spike significantly. About 3,800 people lost their jobs last year, compared to about 3,000 in 2007.
Going forward, the labour movement is planning a series of activities to help workers and their families cope with their financial situation.
45-year-old Tan Koon Ban has his salary cut by 40 per cent since February last year as his company has implemented cost-cutting measures such as shorter working hours to stay in business.
Despite a smaller take-home pay, he remains optimistic, thanks to his family's support and understanding.
"Quarrelling over money can hurt relationships. When it comes to money issues, you must communicate with your family. You must be honest about the money situation," said Mr Tan.
But others may not be so lucky as they face emotional stress and tension caused by financial difficulties. To resolve these issues, some feel there is a need to go beyond financial and job assistance.
Lim Soon Hock, chairperson, National Family Council, said: "If a family does break down, it is not because of the financial crisis, but the result of the family not being able to manage it."
Josephine Teo, assistant secretary-general, NTUC, said: "Anecdotally, the evidence is quite clear – relations do come under strain. Between 2002 and 2003, I did see a spike in divorce rates.
"But in other years, it's not so obvious, and if we look deeper into the issue, even if a crisis is short term, the impact can be long term and it takes time to play out."
That is why the NTUC and the National Family Council want families to equip themselves with simple tools to cope with the tough times.
The organisations are rolling out The Resilient Family Series, which will give people tips on how to manage money and relationships. For a start, three talks are being planned in the first quarter, targeting at least 1,000 people.
Members of the public can log on to
www.tdc.sg for more details on the talks.
- CNA/so
