How to Survive a Layoff

In a news release provided by the U.S. Department of Labor's Bureau of Labor Statistics, nearly 300,000 workers were laid off for at least 31 days in the second quarter of 2008. The report goes on to say that layoffs reached an almost five-year high. Even if you believe your job is stable, no one can be one hundred percent certain that their position will still be in place next month or even next week. If you find yourself the victim of a layoff, be proactive in riding out this stressful time.

Instructions

1. Talk to your coworkers before you leave the office. If some of your coworkers are being laid off as well, exchange contact information so that you can support each other and share job search tips. Collect information from coworkers staying at your now former place of employment as well, so that you have a list of recent professional references.

2. File for unemployment. Check the laws in your state, as there might be a waiting period before you can file, but do so as soon as you are allowed. It generally takes a few weeks to kick in. This can be especially crucial if you were living paycheck to paycheck prior to being laid off.

3. Pay the minimum amount on your current monthly debts, even if you are given a severance package. You might be inclined to pay off some debts with this money, but right now things are uncertain. You might have a new job within a couple weeks, or it could take a few months. Put the money in the bank and maintain your credit by paying your bills on time each month.

4. Cut down on monthly expenses, when it is possible. Stop going to get daily cups of coffee and cancel your video membership. This is the time to avoid as many luxuries as possible, until your financial future is certain once again.

5. Take a few days off. While it is natural to feel an urgency to get right into the swing of finding a new job, you need a little bit of time to overcome the experience of a layoff. On the other hand, don't stay down too long. It is easy to start feeling overwhelmed and depressed to the point where you have a hard time getting out of bed to look for a new job. Remember, this is only temporary.

6. Dust off your resume and make sure it is current. Add any skills you have learned or classes taken. Roleplay interview questions and answers with your spouse or a friend. Start networking and post your updated resume on job board sites. Tell everyone you know that you are looking for a new job. It might be embarrassing, but swallowing your pride and sharing your need with others can lead you to the perfect new job!

Tips & Warnings

• If your spouse has been laid off, be as supportive as you can. Let him or her know that you don't blame them and that you are behind and beside your partner all the way.

• Do not bad mouth or otherwise put down your former employer. Now is not the time to burn bridges.