Since we are always expecting layoffs, here are a few things you can do to better prepare in case you find yourself affected.
Most importantly, make sure your resume and LinkedIn profile are up-to-date. You never know when a new opportunity might arise, so you want to always be prepared.
Next, start saving. You should have at least six months' worth of living expenses in liquid accounts - if at all possible - that you can access in case of emergency. If you can swing it, aim for a year's worth of savings - you'll thank yourself later.
Make sure to hold off on any big expenses if you can. If your car can make it another year, great. Ask yourself if that home renovation is really necessary. Also, consider making cuts to your expenses now when you can, before you're forced to.
Lastly, don't forget to take it easy! If you do end up getting laid off, make sure to take advantage of the severance package and enjoy some unplanned time off. Recharge and focus on your next move. Everything will work out in the end.