What to do after a job layoff?

Nowadays, because of the global financial crisis, a lot of were laid off in their jobs. There were a lot of job cuts all over the world. What will you do if you’re one of them? What will you do if you’ve just learned you’re about to be laid off?

What now? Of course, you will feel depress. Some people even commit suicide.

Even before you start a new job hunt, you can take steps to shore up your financial concerns.

Grab a pen and some hope. If your employer begins your exit paperwork and meetings immediately, you may learn about valuable resources in your severance pay or outplacement benefits. So grab a pen and take thorough notes on everything your employer tells you during the exit process. Make them wait while you write. Get their phone numbers so you can call them later for clarification.

Ask questions. If you’re part of a large layoff, your company probably won’t negotiate for terms of your severance package. But do ask about the package’s details. For example, ask how and when you will be paid, get specifics on the outplacement services your employer plans to pay for, and find out which of your benefits will continue and at what cost.

If your employer has not purchased outplacement services for you, politely complain and request it. They may not be aware of how helpful it is to you. Once you get home, read all the paperwork you’ve received and write down questions to ask. Then arrange to meet with your human resources department to get the answers.

Take action. During the three days following a layoff, go to your outplacement meetings and follow the instructions you get there. In the United States, there is such thing as unemployment insurance. If your severance pay equals less than six months of regular income, file for unemployment insurance within three days too. Remember, this is insurance and it is not a part of welfare or any need-based programs so don’t hesitate to file.

Alternatively, for those ones living here in the Philippines, you can take advantage of the loan being given by the Social Security System (SSS) to those who were laid off. Or you can participate in different livelihood programs implemented by the government.

Budget for change. Look for temporary ways to cut expenses or unnecessary spending. Make a budget or change your budget so your spending can match your changed income until you start working again.

Seek other opportunities. Nowadays, there were few employment opportunities as against the number of workers. Seek other opportunities. You can enroll yourself to various seminars on entrepreneurship and start your own business. You can use your severance pay as capital to start small. Work your way and who knows, you might end up successful in your venture. Sometimes, bad things happen in disguise for better things to happen. You might even thank that you were laid off in your job.

Don’t lose hope. It’s not the end of the world yet when you were laid off in your job. Instead be positive. Be optimistic. Life goes on. Above all, pray, have enough courage to face this challenge and believe in yourself!

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Tyrone is a passionate financial literacy advocate. He started this blog on November 2008 when he watched The Secret which talked about Law of Attraction because he wanted to become a millionaire and wanted to know how a millionaire acts. At the age of 26, he achieved his first million. To find out more about him, click here or follow him at Instagram

5 responses on “What to do after a job layoff?

  1. another tip: the Phil. government has lots of programs for laid off workers, gather info on that and take advantage. attending job fairs may also help.

  2. I hope this doesn’t happen to me. Nevertheless, in the event it does, I will surely take your advice. It’s really hard to be on this boat caught unprepared. So, I suggest that while we all have our own respective jobs, still, we should find a passive source of income. Of course, blogging is one of them. This way, by the time this day comes, we still have another source to rely on.

  3. Nice set of list to take into plan when this happen. The right reaction in any type of situation (especially bad) also helps a lot. You are told you lost your job.
    Now rather than lose sleep and get irritated. Use your worrying energy and time into finding another job.

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