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Looks like i might get laid off soon

J

jinduy

Diamond Member
my company's announced that they will be laying off a significant portion of the company in a few months. they did say there will be a severence package.

would you guys start looking for a job now or wait it out and try to get severence given that

A. you really like what you do and the company itself (at least a lot more prior to this announcement)... i've been at several places and by far this is the best place i've worked for.

B. i'm in IT but i've heard it's across the whole business (accting, IT, etc). this is a mid sized company.

C. i've been there for almost 2 years. i'm the youngest guy on my team. i've done everything that's asked of me, but I certainly still don't have the level of knowledge that the senior ppl do (6+ years). in terms of job function, i do a lot of the technical work and just verify with the seniors on the approaches of implementation typically. still, my skillset is probably expendable.

also, i'm quite saddened and down about all this 🙁
 
Originally posted by: cjvon
Maybe you were laid off because your shift key is broken?
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But shortly after I misread the title, I read his post (unlike you), and saw that he may be laid off in the future, but has not yet been laid off.
 
Originally posted by: darkswordsman17
Sorry to hear that.

I would definitely get the resume ready and prepare a list of places to send it to at the minimum.
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yep definitely will do that. i didn't get through life being THAT optimistic 🙂
 
Originally posted by: jinduy
Originally posted by: darkswordsman17
Sorry to hear that.

I would definitely get the resume ready and prepare a list of places to send it to at the minimum.
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yep definitely will do that. i didn't get through life being THAT optimistic 🙂
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Haha, yeah, was more rhetorical than actual advice as that would be what any sensible person would do. Hope it turns out well.
 
Speaking from experience, do everything you can to stay financially stable. The last thing you want is to be desperate in an interview situation.

I lost my job of 15 years recently with a 1 month notice. I wasn't fired, and I didn't quit, the place I worked at closed. My employer was a contractor for the business so I could have moved somewhere and remained employed, but I chose not to.

Anyway, the reality of unemployment didn't jibe with what I thought it would be like. Hopefully, you are more qualified to find work in this economic situation than I.

Cut off all unnecessary spending, save money, look into unemployment insurance, look for jobs, do every little thing you can to put yourself in a positive situation.

I am rambling a little bit, but the bottom line is that if you lose your job, your new job will be to look for another job. Be positive and proactive. Don't give up hope, do cultivate recommendations from your superiors, and look outside the box for your next opportunity.

I hope this helps. I am speaking to myself as much as to you.

Good luck!
 
Hoard cash - use a low interest rate CC for everything & sign up for their job loss insurance which will make your payments for you while you're unemployed?
 
I'd start looking, and assume you will find out about severance at a later date. The last time my company did layoffs, if you stayed until the end, your severance was pretty damn hefty, with a bonus given as well about equal to an additional 1-2 weeks pay.

Could be worth it, and if you find a great opp in the meantime, so be it.
 
Update resume, start saving cash, and send out the resume.

Sending out the resume, going on interviews won't prevent you from getting severence. It could lead to a job lined up immediately after though.
 
Originally posted by: DisgruntledVirus
Update resume, start saving cash, and send out the resume.

Sending out the resume, going on interviews won't prevent you from getting severence. It could lead to a job lined up immediately after though.
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This. If you're lucky and line something up you may end up earning a similar income immediately and get the severance pay. Start saving all you can though just in case.

I'm hoping I don't end up in the same boat. Last recession my company laid off thousands, I work in a job where experience is huge and I've only been there 4 months. There's one guy that's been there 2 years and everyone else has been there 20+. Unless they have some 60+ guys retire early I'd probably end up on the chopping block.
 
Originally posted by: Bignate603
Originally posted by: DisgruntledVirus
Update resume, start saving cash, and send out the resume.

Sending out the resume, going on interviews won't prevent you from getting severence. It could lead to a job lined up immediately after though.
Click to expand...

This. If you're lucky and line something up you may end up earning a similar income immediately and get the severance pay. Start saving all you can though just in case.

I'm hoping I don't end up in the same boat. Last recession my company laid off thousands, I work in a job where experience is huge and I've only been there 4 months. There's one guy that's been there 2 years and everyone else has been there 20+. Unless they have some 60+ guys retire early I'd probably end up on the chopping block.
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You might be lucky. We just laid off about 35 people in my business segment nationwide, and most were the highest salaries available(longer tenured ees) that could be cut. Harsh, but happens.
 
Lot of that going around. I'd start looking now. It's getting to be more difficult to get a good job. Having a job is better than getting severance.
 
Good luck man, start looking. My gf's job just hired this guy from Merril Lynch.


He was making 120K a year...now he is making 55K. Sucks, but a low paying job is better than no job.
 
I'd start looking now, but I have a family to take care of, so I'm not is a position to possibly not have a job for an extended amount of time.
 
Got vacation days left? When I knew was getting laid off from Motorola, I immediately started hunting for a new job. I only had 2 years of actual work experience under my belt since I was fresh out of school. When I was actually hired on with a new company, I used my vacation days to stay employed with Moto and keep my severance.
 
Be prepared. Make sure your resume is up to date and that any relatives and friends that won't blab about it know you may be looking for a job soon. They might find something for you that you like before it even becomes and issue. Start networking, if you use sites like Linked In, start adding everyone you know and everyone you've ever worked with to your network... just don't be caught with your pants down.

My company had two rounds of layoffs this year. We aren't expecting any more, but none the less I've been keeping my resume up to date and being prepared to start the job hunt the very next day if need be.

It can't hurt to start looking for a new job... unless your company knows about it. Showing a desire to leave just makes it easier for them to let you go.
 
Are the other folks expected to get laid off also IT folks? If so, be sure to jump before they do or you may end up competing with them for jobs elsewhere. Also, being one of the last people hanging around a dying company sucks.
 
At least you have some warning. I was at my last job 5 years, came in on January 2nd and was told to go home. I received a 5 minute notice, no severance, and no reason. The upside was that it allowed me to collect unemployment and study for the bar exam.

I actually asked why I was being canned while we had just hired two secretaries. It was just the beginning of irrational decisions made by a bipolar manager who had tried skipping doses. Sadly she ran the business into the ground and they closed up shop about 9 months after I was let go.

Overall I think it was a great opportunity for me to concentrate on my career and certainly a blessing in disguise.
 
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