money sectionmoney sectionIt is easy to get nervous and feel that your job is at risk, especially if the company you work for is in the midst of a layoff. But even if your company is laying people off and cutting back, there are some things you can do to make yourself indispensable to the people you work with. There are always winners and losers when companies cut staff, and who stays and who goes is rarely the result of simple luck.
A severance package during a job layoff may be the difference between financial survival for your family or failure. Unemployment is a constant threat for most workers. Your position of negotiating strength is better if you have important trade information and you are willing to sign a non-compete agreement.
In a weakening economy, layoffs are an unavoidable reality. Some layoffs involve hundreds or even thousands of workers. Although there is little hope for workers facing mass layoff to prevent the loss of their jobs, there are regulations in place governing how the layoff is handled that are designed to cushion the blow at least somewhat. The worker may also have the right to collect financial compensation in excess of the conventional unemployment insurance benefits.
Your company just announced a slew of layoffs coming up and you fear one of them may be you. Rather than sitting and stewing until the official names are announced, you can get yourself ready for the worst. A few strategic steps will help you prepare for a job layoff.
