How to deal with layoffs?
Layoffs keep happening across the tech and finance industry. Oracle is one of the latest firms to start cutting staff, with sources confirming it's begun laying off more US employees. And as of July, at least 30,000 tech workers lost their jobs so far in 2022. Twitter announced that half of its workforce is gone. And Amazon is also laying off hundreds of employees. This is in addition to the hundreds of thousands of layoffs that have already occurred this year.
Here are some things you can do if you find yourself in the position of being laid off:
1. Don’t take it personally. Remember that it’s not you, it’s the company’s decision. They may be experiencing financial difficulties or may be making changes to the company structure.
2. Keep a positive attitude. This is a difficult time, but it’s important to remain positive. Think about the future and what you want to do next. This might be the best thing that happened. You will most likely have the time and money now to start a new venture. 3. Stay calm and collected. If you can, try to get some information about your severance package and any other benefits you may be entitled to.
4. Start networking. This is a good time to reach out to your network of contacts. They may be able to help you find a new job. A general unemployment support group on Facebook boasts over 8,000 members and more than 40 posts a day; the unemployment insurance subreddit has close to 40,000 members, with dozens of daily posts. There are groups and threads for individual states on both platforms. The Balance Careers has an excellent article on their website entitled, "How to Handle Being Laid Off." This article provides detailed information on what to do if you are laid off, including how to handle the situation emotionally, what to do about your finances, and how to start job searching.
The US Department of Labor also has a webpage entitled, " unemployment benefits." This webpage provides information on how to file for unemployment benefits, how to find a job, and additional resources that may be available to you.
While this might seem intuitive, remaining employees also face challenges. What does it mean for employees who remain? How can you deal and refocus with a much smaller set of colleagues?
The first step is to stay calm. This is a difficult and stressful time for everyone, and it is important to keep a level head. If you are feeling overwhelmed, take a step back and take a few deep breaths. Secondly, try to be understanding and supportive of your colleagues who have been affected by the layoffs. This is a tough time for them, and they will need all the support they can get. Ensure to share open job posts from your network. Finally, focus on your work. It is important to stay focused and deliver quality work, despite the stressful situation.
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