I think it's time we do more than just "dust off our resumes". We will inevitably be layed off, or not. The ones of us unlucky enough to not get severance will be left to pick up the pieces yet again. As if we're not miserable enough. I suggest we update our resumes and start applying for positions that offer better salaries, benefits, work life balance, etc. Best case we find better jobs, worst case we're stuck where we are but have a headstart in the job hunt. I'd rather find something solid now vs being forced to settle when we're inevitably layed off. Let the bottom feeders stay and suffer.
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I also highly doubt they will not give out severance. A slightly worse package perhaps but this isn’t sprint. The company isn’t losing money hand over fist. I wouldn’t give them the satisfaction unless you have a better offer in hand.
Yes they have and both 2022 and 2023 layoff classes had a rough job market to navigate. I miss my old paycheck and benefits but certainly not the stress, politics and love being fully remote and not threatened to be in an office for no reason 3 times a week.
Sadly the best jobs have already been filled from the last wave layoffs. There are only scraps out there currently. Best of luck for those of you who get laid off next. It will much more brutal for you. Save all your pennies.
I just found a beautiful scripture: 1 Peter 5:7 Stop stressing yourself out. God knows what you are facing and He will provide.
Resume is always current. Edwidge told us, we are all operational expenses, she tried to get us prepared but some didn't listen. Some thinks the single SVP Is going to save us all.
What is your dream job? Start working on that now. Why limit yourself to being in the same spot with a new company?
No worries here I’ll work till they pay me to leave. I’m lucky I guess. My spouses income is more than enough for our family to live comfortably on.
I’m not worried about my job. The Lord spoke to me today, not out loud, but that still small voice said “I will protect your job from layoff Jennifer”.
@oyo+1sGBmHPo, Great point about ”…consulting a financial advisor…”.
Rule of 55
Charles Schwab. (2024, March 12). ”Retiring Early? 5 Key Points about the Rule of 55”. schwab.com. Retrieved May 24, 2024, from
https://www.schwab.com/learn/story/retiring-early-5-key-points-about-rule-55#:~:text=This%20is%20where%20the%20rule,pay%20taxes%20on%20your%20withdrawals.
But if you were laid off and you're over 55, you have quite a few more options on what to do with your money. If you don't have one, you should be consulting a financial advisor, not this Layoff board.
@tev+1sGBmHPo Sound advice on all fronts. 👍 I would add: do not be tempted to liquidate your 401(k) for "needs" that are actually "wants", especially if you are not retirement age. Prematurely cashing out some or all of your 401(k) should be reserved for extreme emergencies (to avoid starvation, becoming homeless, medical necessity, etc.). Besides canceling your future retirement prospects, you'll also be hit with significant tax consequences if you are withdrawing early. There are some limited, recognized "hardship withdrawal" reasons that may help to avoid the 10% early withdrawal penalty, but your withdrawal will still be taxed as ordinary income nonetheless.
I was laid off in 2024. Severance is calculated at UP TO 26 weeks max. It’s 1 week for every year employed.
Be sure to prioritize floating holidays first because those are not paid out.
Any 401k/ESPP will be reversed and paid out in separate direct deposits. 2024 bonus is prorated. It’s going to be raining money week after week before it dries up, so don’t be tempted to splurge. Pack it away in a savings account.
Insurance runs out in 2 months, didn’t even consider COBRA due to whopping $700mo for 1 person.
I was told I was safe, our org was safe, that wasn’t all true. So always have an updated resume. The first two months of severance will still provide access to T-Mobile training website percipio. It has training resources available but it will deactivate on day 61.
Hourly got a week of severence per year, salary two.
Paid out biweekly as people I keep in touch with have their last checks coming soon.
During the recent layoff, was the severance pay calculated at one or two weeks per year of service? Also, was the payment issued as a lump sum or biweekly?
Do what's best for you and your family! That's what Jennifer will do; That's what Ulf will do; and that's what Mike will do!
Gods Will, will be done. You should always be looking for opportunities to better yourself. This is nothing new but thanks for the great advice, people will still stick around for maybe a 10k severance.
Nice try Mikey. Is this your thread? Trying to get people to leave so you don’t pay out the severance? I’m staying and will work the absolute minimum. Call it quite quitting, quiet vacationing, call it whatever you want. I am going to work as little as possible and under the radar.
Start now. Don't let the idea of a payout stop you from getting ahead of a new opportunity. Recently left behind 15 years of tenure, slightly more pay and a bit of unvested stock for an opportunity in a different industry and have zero regrets giving any of that up. I have a work/life balance, no real stress (that carries over onto my free time), no obligation to Twitter the fu-k outta you, and no constant threat of my job being taken away at any time, just like, because. The job hunt is stressful and it will take months before you land any serious interviews. You'll be left on read, you won't get any calls back, and you'll probably doubt yourself. It's not you. The system is just broken but keep that sh-t moving. Revise yourself and revise your resume and do it again and again. Prioritize what's good for your mind and not what's good for their shareholders. Take a risk and bet on yourself. Aight?