"Getting laid off feels like a gut punch. Even if you saw it coming, even if the headlines portended it, it's still brutal. Maybe you're one of those people who has survived multiple rounds of layoffs and then suddenly one day it happens to you. Twitter, Google, Meta, Amazon, Zoom-tech giants shed employees quarterly when the budgets don't work, sometimes hiring the same people back months later. It can feel like whiplash to be a modern worker, so strap in."
"Welcome to the second edition of Jobtober! The little tiny pumpkins are taking over your grocery store window display, and for many of us...it's OPEN ENROLLMENT season! In this five-part series, we'll explore how to make your job work for you and how to improve your life at work (well, at least the financial part of it). Last week, we covered how to maximize employee benefits, and this week, we're talking about layoffs."
Layoffs deliver a sharp emotional shock even when anticipated, leaving workers feeling disposable and anxious about savings and career prospects. Large tech firms frequently cycle hires and layoffs, creating whiplash for employees. An emergency fund provides a short-term cushion to cover bills while searching for new work. Workers should preserve cash by understanding severance, final pay, benefit continuity, and unemployment options. Employers may restrict system access, so document paystubs, contracts, and benefits information before departure. Negotiate severance, confirm health insurance continuity, and manage retirement account timing to reduce financial disruption and speed recovery.
Read at Substack
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