managemnet company strategy managemanet Worried About Impending Layoffs?

Worried About Impending Layoffs?

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Losing a job can be a traumatic event, but a little preparation can go a long way. In this piece, the author outlines four ways to get started: 1) Just as it’s important to maintain your health by getting a check-up from time to time, you also need to regularly update your resume and LinkedIn profile. It is a prudent best practice to take care of these updates before you need them. 2) Make a list of your own top values. This self-awareness gives you the lens to evaluate the fit as you look at a company. 3) Get your finances in order. To be financially prepared, you don’t need to save a huge amount of money from every paycheck – start small and increase your savings rate every now and then. 4) Divorce your personal and work data. The simplest way to separate personal from work data is to only use the devices you own for personal things. The more prepared you are, the less impact the layoff will have on your mental health and finances — and the easier it will be to find a new job.

Mass layoffs hit many US companies in 2022 and show no sign of slowing, despite a strong economy and continued growth in new jobs. According to Delete.fyitech companies are slashing more than 187,000 positions in 2023 alone, compared to 80,000 in March to December 2020 and 15,000 in 2021. And it’s not just tech that’s feeling the pain — significant cuts are coming from many sectors and blue-chip companies including Gap, Disney, LinkedIn, FedEx, Dow, 3M, and Wayfair, to name a few.

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