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Dealing With a Layoff

Woman working from home on her laptop

Getting laid off is always tough. These days, layoffs are a sad reality for many people. But you can get through it. We’ve put together a list of suggestions to help you deal with a layoff.

If you haven’t been laid off yet, but fear it might be coming:
 

  • Make yourself as valuable as you possibly can, whether it’s for your current employer or your next one. Learn as much as you can about your job field and take advantage of any free training available to you at your current job.
  • Prepare a budget. Now is a good time to make sure that you are using your money wisely and saving as much as you can.
  • Network. Now is also a good time to brush up on your networking skills. Keep in contact with those most likely to help you should you lose your job.
  • Brush up on your job hunting skills. Update your resume, take a look at job search websites, visit local job fairs etc. Be prepared to jump right into a hunt for a new job.
     

If you have already been laid off:
 

  • Prepare a new budget. Design a strict budget and stick to it. Eliminate all non-essential spending. Do your best to avoid any new debt as this will only hurt you in the long run.
  • Make sure you get all you have coming. Read your employee manual and company policies to make sure you are taking advantage of any benefits you may be entitled to such as severance pay, accrued sick and personal time etc. If you receive health care through your employer try to get them to extend it as long as possible. Talk to a lawyer if necessary.
  • Apply for Unemployment. Make sure to be honest with them about any benefits or severance pay you may be receiving from your former employer or you could be penalized later.
  • Start your job hunt ASAP. It can take months to find a new job. Begin your new job search as quickly as possible. Start with your network and go from there.
  • Take advantage of all of your money making opportunities. If you have been painting houses, baking cakes or working any side job to make extra money, now is the time to step up those efforts.
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Thanks for the post. Just curious-What about health insurance? My friend got laid off and then got sick, I have no clue how she is paying the bills. Is there a leniency period with your insurance when you get laid off? or are you immediately dropped?
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