Layoff Preparedness

Signs of a Layoff

  • A change in attitude toward you and/or other workers
  • Abrupt management changes
  • Expense reductions such as hiring freezes or reduced overtime
  • Broad corporate restructuring plans
  • Decreased workload
  • Bounced payroll or expense checks
  • Suppliers, clients, and/or customers taking their business elsewhere
  • Layoffs among competing organizations

Getting Ready

  • Speak with your HR department about a possible transfer
  • Talk to your family and let them know what may be coming
  • Assess your finances
  • Keep a positive attitude and show you are valuable to the company
  • Update your resume
  • Research opportunities with other companies
  • Determine if your employer will provide any assistance such as a severance package
  • Think about using your benefits while you still have them
  • Collect personal information, performance reviews, documents to take with you, etc.
  • Network, network, network!

How to Respond

  • Stay professional
  • Don't burn bridges
  • Get letters of recommendation from your supervisor(s)
  • Discuss the following with your HR department: vacation and sick time remaining, continuing health coverage with COBRA insurance, understanding and rolling over your 401(k) or pension plan

Managing Stress

  • Remember this is not a reflection of your talents or abilities
  • Examine your circumstances...this may be a great time for a career change!
  • Think about additional training
  • Stay on a "work schedule" and get back on the job market
  • Explain your situation to family and friends
  • Stay active with hobbies and interests