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How to prepare for a layoff

August 16th, 2007 at 09:02 am

I'm getting some good suggestions in the forums for how to prepare for a layoff.

I think the key ones are:
1. Get your finances in order. Build up the emergency fund and start cutting fat from the budget.
2. Get your career prospects in order. Polish up the resume, start talking to your friends and contacts, maybe freshen up on your skills that would be desirable to employers.
3. Don't panic or feel bad. This is business and you can't take it personally. Take it as an opportunity to find something better that you wouldn't have otherwise taken the risk to find.
4. Find out in advance about resources available to displaced workers: unemployment benefits, outplacement services, social programs, etc.
5. Leave on a good note! You may need to get back in touch with your old coworkers in the near future.

2 Responses to “How to prepare for a layoff”

  1. Nic Says:

    Another suggeston...get your health affairs in order...dental,glasses,medical etc. Before I left my old office, my partner and I got new glasses and took care of our yearly dental check up.
    Take a week or month if you're able to and just relax,chill out,read a book you've been meaning to get around to etc.

  2. fern Says:

    Oh, yeah, if you haven't used up any personal days, do so now, cus they are not reimbursed to you in cash the way unused vacation days generally are.

    Also use up your money for healthcare reimbursements if you have a FSA. Not sure what happens any unspent money if you lose the job.

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