A STEP BY STEP GUIDE TO YOUR LAYOFF
First Layoff? Second Layoff? You're not alone. Hugely underreported, layoffs have plagued the landscape since 2020 and continues to dominate across industries, in particular tech and related fields.
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Based on feedback given from others impacted by layoffs, employee advocates and mental health professionals, here are the top ten things to do when facing a layoff.
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First indication of layoffs (if any)
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Stock up on finances. Keep a savings as best you can. In this already challenging environment this can be difficult but look at all assets you have. Cut back where you can and inventory. 401Ks can be taken out with penalties as can stock. Prepare for delays with benefits when accepting severances.
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Inventory all wins with company. If you have enough notice capture everything you touched and had success with. Send it all to personal emails, drop boxes, and portfolios. If your role is niche or you didn't have a chance to make impact at company yet, prepare example and mock items for future interviews.
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Prepare your resume and start applying. The sooner you start the application process, the better. Anticipating layoffs means trying to be proactive before they happen. Battling thousands of people will be challenging so add and engage with your networks now.
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Engage network. As mentioned, this is crucial. Engage on LinkedIn, in person meetups, referrals, and more. Be prepared to be uncomfortable.
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Layoff Need-to-Knows (during layoff discussion)
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1. You CAN negotiate severances and engage a lawyer. See our resources page for employee advocate groups in your area. Follow LI Employee advocates like Dan Goodman. Read the fine print and know your rights.
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2. You CAN ask for references and recommendations; don't be afraid to gain the items you want before signing anything.
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3. You CAN speak candidly about your experience. Your experience is yours and although discouraged there is no legal obligation to not speak about your personal experience unless it directly affects a company financially.
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4. You NEED to request assistance for unemployment benefits or otherwise ASAP. The benefits will be delayed according to severance received.
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Post Layoff Life
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Keep a journal/log of all applications for benefits purposes and your own. Audit monthly. See trends you may be having in your journey.
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Keep a routine. Layoff life looks different for everyone. Keep a routine of some sort to help focus on your goals.
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Keep going. Mental fatigue is normal, stress is normal, and imposter syndrome is too. You are not alone. Connect with others, take a break, and remember layoffs are not forever.
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