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How to Prepare
for a Layoff
Suppose your work place starts buzzing with
rumors about possible layoffs in the near future. What do you
do? Wait and hope that you won’t be one of the unlucky ones, or
cut your losses and quit before you’re laid off?
In most situations, it’s much more prudent to
wait, rather than jumping the gun and quitting before the
layoffs happen.
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You’ll be able to leave on better terms with
the company
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You may able to collect severance pay and
other benefits depending on the situation
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No need to explain to a new employer why you
quit
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You may end up not being laid off at all—it’s
not a sure thing until it actually happens
However, there’s no reason why you can’t start
preparing for a possible layoff before it happens. There are
several things you can do to make the layoff and your subsequent
job search go more smoothly. Being laid off is never completely
stress-free, but if you start preparing before it happens it’ll
be much easier to deal with.
Be Proactive
If the rumors of layoffs persist it might be time
to request a meeting with your boss. Tell them you’re concerned
about the possibility, and if it seems likely layoffs might
occur in your department, ask if you can interview for new jobs
while still employed (explaining that you’ll make up the time by
arriving early or working late).
Update
your Resume
This is a good time to take a look at your resume
and make sure it’s up-to-date. If you’ve been in your current
position for several years without updating, your resume
probably needs an overhaul.
Make a list of your most significant
accomplishments in your current job, as well as any new skills
you’ve learned or responsibilities you’ve had. These can be used
to update your resume, and will be useful when writing
cover
letters, too.
Start Networking
If you haven’t been keeping in contact with your
business associates, now is the time to get in touch.
Reestablishing contact before a layoff occurs will be more
effective than calling out of the blue to ask about job leads
after it happens.
This is also a good time to do some research and
find out what types of severance packages other companies are
offering. If you do end up being laid off you’ll be better
equipped to negotiate a more beneficial package for yourself.
Also, please review our
Tools to Find a Job section.
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