Thread regarding PNC layoffs

You will land on your feet

Getting laid off is never a pleasant experience. Most people have been laid off at some time in their life. It's scary at first but you will find another job. You might even like it more than what you have now. Things usually end up better than you think.

At first, there is just shock and often a little anger that you got singled out and don't know why. Just try not to overthink it and above all don't take it personal. Again, most people who have been in the labor market for a couple decades or more will have experienced it. Once the initial emotions wear off, you just say sc--w it and get on with your life and end up landing another position. Not much else you can do really.

I know that doesn't help much during this difficult experience but after a while you will realize what I shared probably rings true.

As far as personal finances, it's best to keep a level-head when it comes to your money. Even though you are mad right now it really is counter-productive to dump your stock given the 1-year target price. It's not going to hurt PNC in any way by selling your stock. This won't be getting back at them. Someone else will just buy the shares. When you trade a stock on the market, you can't sell without a buyer on the other end. The only thing selling your stock will potentially do is lose you profit. Unless you need the money it makes no sense to sell it unless you had somewhere more profitable to park the money and PNC stock is a good performer. I do not work for PNC or have any relations to them. I also don't own the stock. But just randomly reading this forum thought I would try to offer some constructive input.

Good luck to you. In the short term it su-ks. But you will land on your feet. This happens to tens of thousands of people every year and they end up fine. You will too. Try to remain positive even though I know it is hard at this time.

An excellent post that I think belongs on the top. The OP is @tqj+1p2zd32E.

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| 1211 views | | 2 replies (last October 13, 2023) | Reply
Post ID: @OP+1p3tFvpO

2 replies (most recent on top)

In a situation like this, its best to be step away and take a breather before making ANY financial decisions.

Some advice for those just facing this scenario:

  • Do NOT get confrontational when dealing with your former employer. Remain professional. Believe it or not, some employees often get asked to return after a period of time. It happens more than you think. Depending on how things transpire in the short-term, an employer might decide they short-changed themselves. Or a new priority comes up( a merger or acquistion) and they find themselves understaffed. If you act like an a-s they have already written you off.
  • Do your best to forget about your experience with your former employer. It serves no purpose to dwell on feelings of anger or resentment. It will accomplish nothing and will bring you down. Negative thoughts lead to negative days. Negative days lead to negative weeks and before you know it, you are depressed and sitting around the house doing nothing with your time.
  • Remove yourself from the situation. Take a well-deserved vacation for a week or two to decompress and unwind. But don't extend it.
  • Above all, don't procrastinate on the job search. Take some time off to decompress as mentioned above. But get right to it when you come back. Don't wait for jobs to come to you.
  • Get on unemployment ASAP. Severance is a benefit unrelated to unemployment. Filing will not only get you income flowing in, it also will aid in the job search. Even though it's a government-run program, you have a fair chance of finding leads through the postings and they do offer search assistance. They want you off the program ASAP so they do offer some assistance in the job search area. Any help you can get on the job search is good help.
  • Reach out to former colleagues you know who are working elsewhere. Let people know you are actively looking.
  • Do not make any financial decisions or big purchases. This includes opening up new accounts, transferring accounts. If you must transfer all your accounts, save that stuff for after you land a new job. There is no rush. Your focus should be strictly on the job search, not redoing your finances. This will simply be a distraction.

I know people are upset and it helps to vent. ButjJust trying to help here with constructive advice

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Post ID: @1tsa+1p3tFvpO

As it pertains to personal finance, if you have a PNC account then move it to another Bank. If they lose 6,000 accounts, they will feel that.

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Post ID: @mki+1p3tFvpO

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