Originally published at [url]benefitonline.org[/url]

Some days ago, I overheard a conversation between a man and one of his friends that works in an oil company regarding a letter the friend had purportedly received from the management of his company about an impending downsizing at the company. This friend that works at an oil company needed an advice from the one who happens to be an entrepreneur, on the next stage of his life.

His company had been really nice by even sending letter to their employees in preparation for an impending layoff. This seems to be the norm these past few months post plunging oil prices, the effect which needs no overemphasis here.Why this article has not been written to discuss the cause or solution to the global economic tumult, we cannot ignore the knock on effect of the falling oil prices on other sectors nonetheless.
Some of these companies have been kind of nice to the point of offering their workers the choice of having to take between massive pay cut or face the axe. Whether the workers accepts the pay cut or otherwise, these corporations always have the upper hand in the end. In as much as lots of people have been led to believe that the current economic tumult is only affecting oil companies, it is far from the truth in reality. Many other companies are also being affected by the problems indirectly example companies supplying equipment or offering other professional services to oil companies.

The question that begs an answer is, if you are faced with the scenario of having to choose between outright dismissal or massive pay cut, which would you choose. Why the most likely response might be a massive pay cut, for those who would rather be employed than go start from scratch, the next question will still ask what if it happens again? I can guarantee you that it will happen again and again until the company no longer needs your services. You ask the question, what if I chose dismissal, what will I be doing? I wish I could give straightforward answer, unfortunately it isn’t that simple. It kind of depends on what you can do.

These friends I overheard their conversation couldn’t convince the other friend of what he needs to. This was someone that was taking home a six figure salary but apparently never planned for the rainy days. His vacations were spent shuttling from Holland to Dubai to the Caribbean and back to work. His mouth had become so wide that his friend was hesitant in advising him on what to do.

This is where the next question comes, are you prepared to start afresh? If you are prepared for the rough journey of being an entrepreneur, you need to walk away and become your own boss. However, what I can not guarantee is the fact that you are going to have a smooth ride to the top, that’s absolutely impossible. But you will be happy you took that step towards self dependence. If instead you choose to accept massive pay cut, I can guarantee you that it will happen again, again and again until you are no longer useful to the company. So you make a choice, carefully.