First, if you were laid off or soon to be laid off, I’m sorry that it happened to you. Unfortunately it’s a sign of the times.
In 2024 the RIF happened to me, I’d like to offer a few few suggested next steps to guide some of you through this process. This is just one person‘s advice, so take it or leave it at your leisure.
1.) Take some time to process your feelings. You will be hurt and angry and a whole bunch of other feelings that you may think would never happen to you.
2.) write down as many projects and details as you can remember in a notebook. You’ll need this for resumes and interviews later. You’ll also be surprised at how much you tend to forget once you no longer are in the day today rat race.
3.) if you’re eligible, get to know about the unemployment insurance process. Note that you’ll have to make a appearance in person and get approved before they start your benefits. Also, this can only happen after your last day at Nike. Learn the process now and prepare accordingly. Know that unemployment payments are really not gonna amount to much, so don’t count on them helping you cover all of your bills.
3.) your severance will only be taxed around 20%. You think you’ll have hit a windfall, only to end up owing a bunch of taxes next year. Don’t spend it all and make sure to save some for taxes. In fact, if you plan to get another job this year, more than likely, you’ll end up owing taxes next year.
4.) brush up your résumé even if you don’t intend to get a job right away. That act of realigning your professional documentation will help you get your ducks in a row.
5.) start leveraging your network now, ensuring that you have a strong support system, as well as ideas of next roles.
6.) don’t get a job right away. Take some time to de-corporatize yourself and spend time with family and friends. Try not to blow your severance as you’ll be relying on this to help pay bills during the time you’re unemployed.
7.) stop reading this job board, it’s only gonna make you more depressed and angry. If you’ve been laid off, there’s nothing you can do about it…accept the situation and move on (somehow).
Good luck!