Abstract
The 2008-2009 economic recession had extensive ramifications on the labour market
globally, which culminated in companies adopting cost-cutting initiatives. The resultant
job losses through retrenchments were unprecedented. While restructuring through
retrenchments has been on the increase for the past decade, there has been
insufficient research on how dismissed workers have survived, reworked livelihood
strategies, or drawn on social capital in pursuing alternative livelihoods.
The purpose of this study was to, firstly, assess how ex-TMG employees retrenched
between the years 2008 to 2014, have responded to their experience of retrenchment.
Secondly, it was to probe whether social capital assisted ex-TMG employees to
experience positive life transitions after retrenchments. This study used qualitative
methods to obtain data through in-depth interviews. Twelve participants residing in
different parts of Johannesburg were interviewed.
The findings of this study demonstrate that ex- Times Media Group (TMG) employees
did indeed make use of social capital during their tough days in the aftermath of
retrenchment. Social networks in the form of family, friends and acquaintances played
a pivotal role in providing different forms of support about job opportunities. Families
gave retrenched employees a place to stay while they were still searching for
employment. Those who had educational credentials, and experience, in addition to
social capital were swiftly re-employed. While some struggled, other ex-TMG
employees appreciated the fact that retrenchment gave them a start to follow their
dreams and become entrepreneurs as they could not resign on their own and needed
the severance money to use as start-up capital. In general, social capital assisted
retrenched ex-TMG employees to cope with retrenchment and redirected them to
alternative livelihoods.
It is recommended that further studies of wider media industry retrenchments should
be conducted, so that more case studies could offer insights into the multiple strategies
of ex-employees and how they seek to improve their futures after losing their formal
jobs.
M.A. (Social Impact Assessment)