Let's face it, no company cares that much about their employees just like employees don't care that much about their employer. We all just need to be paid a fair wage to live. It's no surprise, layoffs are a part of the game, unfortunately. There is something you can do to lessen the blow: stop living paycheck to paycheck, get out of debt, learn to live on less than you make, save 3-6 months living expenses. Do these things and you won't stress as much. Yes, being laid off is hard, scary and hurtful. But there are things you can do within your power to make it manageable if it happens to you. You have the ability to set yourself up for a good outcome. The key is to plan for the worst but hope for the best. Who knows, a layoff could be a blessing in disguise and there may be better opportunities out there.
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So true! Don’t expect anything better. Downsize to wearing the same outfit every day and you only need one stanley cup. Eat beans. Get rid of most tech. Read. When you have light. Go to bed when the sun sets and get up when the sun rises. Knit sweaters. Sew your clothes. Don’t eat out. Don’t travel. Don’t take vacations (you can’t because you should grow your beans and you need to tend your crop). Don’t have children but if you do, have only one. Preferably a male. Don’t think of the next generation doing better. Keep your head down and survive.
Agree with all of the above. This is a “layoff shop” and nobody except the CEO (mostly) has any job security. To think otherwise is a fools errand, denial, or plain ignorance of reality.
That said, if you want to work for this or many other orgs, it’s wise to save 20 percent of your take home (on top of 401 k and other savings eg 529, mortgage, auto payments, etc) for when the day arises when you get the infamous “business unit update” email for the doomed Thursday layoff. To think differently is foolish and a disservice to you and your family. If this is not achievable for you, and you cannot cut other expenses, this place probably ain’t for you as there’s a darn good chance your “number will be called.” Also, if you’re anxious about job security and money, it’s probably a good idea to look elsewhere as layoffs will only increase given the business plans, AI, and continued offshoring.
6-12 months of saved salary is a good start but in this job market I’d suggest a massive accumulation as severance- if you even get any - will not replace your earnings for long. Remember cash (well managed) is king assuming you also have a retirement portfolio appropriate for your age and risk tolerance.