The BEST His and Hers Financial Literacy Podcast for Millennials
Feb. 12, 2025

How to Successfully Navigate a Layoff

Getting laid off is often a jarring experience, but it doesn’t have to derail your career. Having faced this circumstance firsthand, I was unexpectedly laid off from a Fortune 100 tech company in September 2024, an event that analyzed every aspect of my professional life. The layoff affected nearly 7,000 employees, emphasizing the unpredictable nature of the corporate landscape—an experience that taught me significant lessons about resilience, planning, and strategic pivots. 

The first step everyone should take when facing a layoff is processing the emotional turmoil it can spark. Many people believe that taking time to grieve over a lost job is a waste, but I firmly disagree. Acknowledging feelings and compartmentalizing emotions, even just for a week or two, is essential to your mental well-being. It’s easy to see the experience through the lens of self-doubt, but holding space for yourself can foster clarity in your next moves. 

Once the emotional shock begins to fade, the importance of understanding your severance package becomes vitally important. My employer graciously provided a severance that enabled me to take a step back and reflect on my career goals. However, not every individual is privileged with such a cushion; understanding severance intricacies can lead you to make informed financial decisions. Calculate your expenses and evaluate the health insurance options available post-layoff—these details can make a significant difference in how you navigate this period.

While financial stability is crucial, practical actions for a job search should also be prioritized. The landscape of job hunting has transformed—spanning online platforms and social media channels. Updating your resume and LinkedIn profile is a must. When I began my search, I maximized my time by applying to numerous positions, securing interviews, and networking extensively within my professional circles. For every application, I would connect to people in that company or role, allowing my candidacy to stand out against numerous others.

In addition, establishing a clear job search strategy can yield positive results. Many job seekers fail to identify the specific roles they want, leaving too much open to interpretation. Properly defining what you are seeking will help your peers suggest roles that align with your aspirations. For example, I focused on technology, specifically in the areas of program management and sales enablement, while making certain to communicate my preferred work cultures and environments clearly to my network.

While navigating interviews, always remember that this process goes both ways. You're interviewing the company as much as they’re interviewing you. Pay attention to how you feel during the conversation; a good fit is just as important for your happiness as your qualifications are for their needs. I turned down offers that did not align with my core expectations, knowing that my next career move would define the trajectory of my future.

Ultimately, keeping your spirits high and approaching each aspect of this journey strategically will better prepare you for what's next—whether that means preparing for a new role in the same industry, a career pivot, or simply taking time to recharge before jumping back into the workforce. Most importantly, remember that a layoff isn’t the end; it can be a new beginning filled with opportunity if approached the right way.

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73: How to Successfully Navigate a Layoff: Jessica's Personal Story

In this episode, Jessica shares her personal journey of being laid off from a Fortune 100 tech company and the steps she took to navigate this transition with strategy & resilience. The conversation delves into managing emot…