WHEN I joined the workforce in 2001, times were bad.

Many companies were retrenching workers. Many fresh graduates were not as lucky as I was to have found a job.

Imagine my surprise then when a friend told me that her colleague had volunteered to get the golden handshake from the company he had worked in for over 20 years.

After all, I had heard only negative things about retrenchment - families struggling to cope, grown men in tears, people falling into depression.

But the middle-level manager, in his 50s, was not in the least bit distressed.

My friend said: 'He was more than glad to ask to be let go. He said the money from the retrenchment package would be enough for him to retire comfortably.'

He made sense.

When the Government released its list of cost-cutting measures that companies should consider before resorting to retrenchment, I was surprised that voluntary retrenchment/retirement was not among them.

It's not new - companies here and abroad have done it.

A typical retrenchment package pays two weeks' to one month's salary for each year of service, usually capped at 20 to 25 years.

It's hard to believe that not even one long-serving employee would bite at that.

The worker doesn't even have to be near retirement age.

He could be hanging on to his job, even though he dislikes it, because of financial reasons.

But with the layoff package, he could get the money to tide him over while he figures out his next career move.

It's a win-win situation, if you ask me.

The 'volunteer' is happy with his retrenchment benefits. His boss has one less disgruntled employee to deal with when he hands out the pink slips.

And hopefully, it will help save the rice bowl of another worker who wants to keep his job.