The Basics to Survive a Layoff During the Roughest Time of Year

Mass employment purges peak in December.

December 12, 2018 5:00 am
layoff
It might not seem like it at first, but you can survive and thrive through a layoff.
Getty Images/Westend61

When it comes to job stability, December is the cruelest month. Data from the Bureau of Labor Statistics over the past 10 years — and, traditionally, for many years before then — shows that December is the most popular month of the year for companies to make major cuts to their workforces in the form of mass layoffs.

It may be because year-end reports dictate whether businesses made or lost money during the fiscal year, or because analyses dictate which teams are expendable and not helping meet the bottom line. Either way,  the calendar’s final stretch is prime time for people to lose their jobs. In 2013, the last full year of layoff data provided by the BLS, December saw almost 140,000 people lose their jobs — the most of any time that year.

This is rough, of course, for families trying to budget for Christmas gifts and for those trying to get their own end-of-the-year finances in order. But when everyone else is losing their job and flooding the market with qualified applicants, it makes finding a new role especially difficult.

Recruiting software company Jobvite did the math and three years ago found that it took about just over six weeks — or 43 days — to find a new gig in the wake of a layoff. While that may be the average, ask anyone who’s been through this horrible life experience and, based on their industry, they’ll tell you it was — or at least felt like it was — much longer than that.

As someone who’s been through a companywide “consolidation” herself, I can tell you that it took me just about three months to find a new opportunity. First, you mourn. But after a week or so, enough is enough and it’s time to get back in the game. The goal is shiny new, sustainable employment. These basics will help.

Get Your Unemployed Ducks in a Row

When faced with the prospect of no longer having a job, the first worry that comes to mind, of course, is money. Hopefully you have a liquid savings nest egg sitting in the bank or a retirement account, like a 401(K) or IRA that, although with taxes and penalties, you can borrow against if need be. Filing for unemployment benefits might make the most sense for you right now and beyond that, each state has career centers that offer advice and counseling, too.

But with a layoff typically comes a severance package meant to help see you through for at least a few weeks. On top of that, maybe you’re owed for any unused vacation and sick days, outstanding expenses, healthcare and life insurance premium payments or you qualify for the Worker Adjustment and Retraining Notification Act. In some cases, your health care coverage may continue for a set amount of time, as well. Point is, there are likely a number of ways you can be reimbursed or covered right now.

Work the Phones

And your LinkedIn account, industry contacts, headhunting websites, alumni career services center and traditional job sites like Indeed and Simply Hired. Set up informal interviews or take people at companies you want to work for out to coffee and have a few business cards on hand for these meetings. One of the best — and sometimes only — ways to get hired is to be recommended by someone on the inside. Adding your resume, cover letter and application to the vast internet void doesn’t typically garner a response.

Speaking of that Resume…

If you can’t remember the last time you updated your resume and LinkedIn profile, it’s time to revamp it. Even if you’ve added a few accomplishments and promotions over the year, it’s not a bad idea to spruce it up with qualifications that match the new roles you’re applying for.

When reading over job postings, make sure to read the requirements carefully and have those skills and qualities shine through in your CV. Pro tip: Have a trusted (aka smart) friend read it over before a hiring manager does. Nothing will make potential employers roll their eyes quicker than a thoughtless typo.

Stay Positive

Yes, being laid off is the worst. No, that doesn’t give you free range to bad-mouth your former employer at an interview or in networking situations. Instead, think about the positive things that came out of your time there — what you learned and the great people you met. Remember that you weren’t “fired,” and focus on the positives like brand new opportunities and the good kick in the pants you’ve just been given to figure out exactly which next step in life will make you happiest. Then, go get it.

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