Comments on: 5 Tips To Prepare For A Layoff In Advance

By: Monevator

Monevator — Sat, 07 Feb 2009 12:49:30 +0000

I think tip 3 is the most important. It’s far easier to get a job while you’ve still got one. If you do find yourself laid off, consider going on holiday for month and claim you were taking a career break – even if you just go to your family’s home for a short while. People like to hire people they think others want.

By: Kyle

Kyle — Fri, 06 Feb 2009 16:16:39 +0000

Lise, same industry although the commute is a bit longer than is ideal.

Andy, that is good advice. I don’t know why I didn’t think of it.

By: Lise

Lise — Thu, 05 Feb 2009 21:59:24 +0000

Glad to hear you’re in a new job! Is it in the same industry, or have you had to switch career paths?

By: Revanche

Revanche — Wed, 04 Feb 2009 19:43:36 +0000

All good advice, I’m doing all of the above as I prepare for the layoff (and am actively job hunting). I would include: References; make sure you know who you can ask to serve as a reference or a resource and that you have their contact information before you leave. Nothing like wishing you could access your old contacts lists.

By: Andy

Andy — Wed, 04 Feb 2009 15:38:44 +0000

Some sage advice here. I espically lke the 12 months of EF and keeping your network strong while you have a job.

The other thing I would add is to try and pay off any credit or high interest debt asap.

By: Dividend Growth Investor

Dividend Growth Investor — Wed, 04 Feb 2009 13:52:04 +0000

Nice ad for Monster at the end of the post.

I agree with you that 12 months of living expenses is the norm. If you can afford to downsize, that would add some extra flexibility to your situation.

By: tom

tom — Wed, 04 Feb 2009 04:09:22 +0000

I would say having a secondary or multiple income streams because I don`t think you want to bet everything you have on that job.

Plus I would imagine, at least for me that I do not plan on staying at that job for the rest of my life, so you should be planning to make changes such as secondary income or something.

By: Kyle

Kyle — Wed, 04 Feb 2009 03:26:06 +0000

Yes I got a severance, but I don’t think it’s wise to count on it. And mine wasn’t very big.

By: Four Pillars

Four Pillars — Wed, 04 Feb 2009 03:17:26 +0000

Regarding the emergency fund – did you get any severance pay from your old job?

I’m thinking that if you know you are getting a good severance then that would reduce the need for a larger EF.