Abstract

The article examined the socio-economic consequences of retrenchment on the affected individuals, their families and the nation. Since retrenchment more often than not takes place suddenly, retrenched workers are ill equipped to face the unforeseen challenges that befall them after the incidence. Their plight is worsened by the fact that a sizeable proportion of them are relatively “too old” to find suitable job placement, learn or begin new ventures. Consequently, many of them become incapacitated, idle, unproductive, and sometimes stressed, frustrated and may eventually die prematurely. This paper reviews extant literature on the socio-economic effects and their implications on the nation, besides the individuals directly affected and makes far reaching suggestions for positive outcomes.