How to survive Lay-Off rumors

Every couple of decades our economy goes through adjustments. We are starting a new one at this time. Companies are not replacing employees that leave. Many large companies are abandoning plans to open new branches. Rumors of layoffs are rampant.

Here are 7 steps you can start taking immediately to make sure that you and your family will be all right, even if those rumors turn out to be true.

1. Remember it is just a rumor
The only thing in an office faster than Broadband Internet is the office rumor. You were told that your co-worker heard that the Janitor was told by the boss’ cousin that ... Well, you get the picture. Take it all with a grain of salt until you hear something official by someone official. Your Manager, the Owner of the company, or someone else in authority.

2. Talk to your boss
The “someone else in authority” is usually your direct supervisor. They may be able to tell you flat out what is going on. If they sidestep the issue, this may give you the answer that you need. If they don’t know, ask them to find out so that you can be ready.

3. Start putting something away
It may be time to start tightening your belt. Are you paying a monthly storage on things you will never need again (things you can possibly sell)? Are you stopping for expensive coffees on the way to work, when you can bring one from home? Could you trade in bottled water for a purifier? Know what things are and are not essential to your life. Put the non-essentials away for now.

4. Research what is out there for you “just in case”
Look online, check with your contacts in other companies, start looking into a new career. Know that if you are no longer in the same position, you can go to a better job in a new place. Make sure that your resume is completely up to date and saved in both a professional looking format and text-only for online applications.

5. Know how to apply for unemployment and what you can get
Unemployment is not a bad thing. You have been paying into it just in case you ever need to draw from it. Wrap yourself around that fact and be prepared. Find out what paperwork you need in your state to apply for unemployment and where you need to go. Then find out just how much you are eligible for. This ties back in to knowing what you can live without.

6. Talk to your family
Don’t try to save your family from worry. Be upfront and simple with them. Let them know that rumors are going around and that they are just that – rumors. Make them feel like they can be of help to you and each other by letting them think of ways to start saving. Rather than tear a family apart, this can bring you closer together.

7. Relax
Once you know that you are ready “just in case” you can now go back to enjoying your job, knowing that even if the worst happens, you’re ready for the next step in your career.