Ways to prep for layoffs? - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
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post #1 of 13 (permalink) Old 11-19-2008, 05:43 PM Thread Starter
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Ways to prep for layoffs?

So it has come time for our corporate office to announce that each city division will have to reduce staff in all IT&S departments. There is no gurantee that Im one of them yet, however if they follow the last in - first out rule...I was the last to come to my team. I can say that I am probably the most productive on the team and knowledgeable as well with stats to prove it, however that doesnt always mean anything. Ive been laid off before but then it didnt matter as I was fresh out of highschool with little bills and pretty much no debt. Now Im in the hole ~$25k (car, student loans, other credit) with my own place (renting) and am already starting to get worried. Ive already begun the parting out, selling the car process due to other reasons...but its still not over. Anyways, anybody who is in this situation right now or been there before...how do you cope with it? What steps do you take to try to make your life as easy as possible? I have over $1500 in bills every month coming from almost $3500 in pay after taxes. I dont know...but honestly I am starting to get pretty scared...

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post #2 of 13 (permalink) Old 11-19-2008, 05:50 PM
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Re: Ways to prep for layoffs?

Start looking for something else just in case you do get laid off. You should have upwards of 30 days to accept a position at another job after being presented with an offer. I wouldn't wait to the last minute if you think you could get canned. Sell off things you don't need to free up some cash, because cash is KING right now; which I see you're already doing that. Cut back expenses and try and live off bare essentials. While laid off draw unemployment or work a part-time job through a temp agency. If you can draw good unemployment then just sit on that while you are out applying for a new job. It'll be hard to do this next step, but prepare to be faced with a pay cut if you work somewhere else. That also means you may end up doing twice the work for 2/3rd's of the pay, but that is what keeps your roof over your head, electricity for your appliances, and food in your stomach. Those are my ideas. I'm cutting back my expenses now.

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post #3 of 13 (permalink) Old 11-20-2008, 09:22 AM
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Re: Ways to prep for layoffs?

Well, unemployment should come within a couple hundred of meeting your bills, so hopefully you've put some other money aside in savings.

Other than that, start looking for a new job NOW. If you wait until you're out of work, you're just delaying the process and increasing the time you'll spend without an earned income.
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post #4 of 13 (permalink) Old 11-20-2008, 09:31 AM Thread Starter
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Re: Ways to prep for layoffs?

Well turns out this morning I got an email stating that our division is different for the others because the Corporate company (HCA) owns only 50% or something and the local company (Methodist Healthcare System) owns the other half. Apparently our division was smart by only expanding with money that we actually earned rather than loans. So in turn, they decided our IT&S was too important do to many piloting programs we take on here and that we will be reducing cost by other methods...(reducing paper, lights to a minimum in not critical care areas, getting rid of things we dont need anymore, etc). I was really starting to get worried there for a second, but our CIO cleared things up. Thanks for your responses and hopefully they will help anybody that may be pressed with this situation.

Lots of stuff For Sale with more coming...


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post #5 of 13 (permalink) Old 11-20-2008, 09:35 AM
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Re: Ways to prep for layoffs?

Great news. Glad to hear it.
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post #6 of 13 (permalink) Old 11-20-2008, 09:48 AM
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Re: Ways to prep for layoffs?

Also glad to hear it, but in case anyone else is facing a similar situation, make yourself as useful as possible to as many higher level people as possible. Become indispensable. You may end up with more work in the long run, but that's a hell of a lot better than the alternative.


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post #7 of 13 (permalink) Old 11-20-2008, 09:51 AM
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Re: Ways to prep for layoffs?

[quote author=Alec Trevelyan link=topic=128832.msg2757960#msg2757960 date=1227192483]
Also glad to hear it, but in case anyone else is facing a similar situation, make yourself as useful as possible to as many higher level people as possible. Become indispensable. You may end up with more work in the long run, but that's a hell of a lot better than the alternative.
[/quote]

It's a balancing act. Become too indispensable, and you'll never be promoted because they worry about filling your old position. We all know that one man or woman that's smart and extremely hard working yet still is a rank and file employee because of it while others get promoted.

If you're too dispensable, you're gone at the first sign of trouble.....

My advice is to always take the initiative and educate yourself in a manner that qualifies you for the job above you.
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post #8 of 13 (permalink) Old 11-20-2008, 09:56 AM
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Re: Ways to prep for layoffs?

[quote author=fatabbot link=topic=128832.msg2757971#msg2757971 date=1227192684]
[quote author=Alec Trevelyan link=topic=128832.msg2757960#msg2757960 date=1227192483]
Also glad to hear it, but in case anyone else is facing a similar situation, make yourself as useful as possible to as many higher level people as possible. Become indispensable. You may end up with more work in the long run, but that's a hell of a lot better than the alternative.
[/quote]

It's a balancing act. Become too indispensable, and you'll never be promoted because they worry about filling your old position. We all know that one man or woman that's smart and extremely hard working yet still is a rank and file employee because of it while others get promoted.

If you're too dispensable, you're gone at the first sign of trouble.....

My advice is to always take the initiative and educate yourself in a manner that qualifies you for the job above you.
[/quote]

+1

From your lips to God's ears (if there was a God).

Still, take the scare as a sign though. Start saving. You always want at least 6 months of living expenses squirreled away just in case. That is somewhat more important then paying down debts, though that is certainly a very, very close 2nd in what to do with any spare money. I would say living frugally for a few months to save up some extra is not a bad idea at this point just in case. You never know what could happen in the future. Just because your division/one of the parent compaies is doing well right now doesn't mean it will be 6 months or a year from now.
-Matt
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post #9 of 13 (permalink) Old 11-20-2008, 10:09 AM
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Re: Ways to prep for layoffs?

[quote author=fatabbot link=topic=128832.msg2757971#msg2757971 date=1227192684]
[quote author=Alec Trevelyan link=topic=128832.msg2757960#msg2757960 date=1227192483]
Also glad to hear it, but in case anyone else is facing a similar situation, make yourself as useful as possible to as many higher level people as possible. Become indispensable. You may end up with more work in the long run, but that's a hell of a lot better than the alternative.
[/quote]

It's a balancing act. Become too indispensable, and you'll never be promoted because they worry about filling your old position. We all know that one man or woman that's smart and extremely hard working yet still is a rank and file employee because of it while others get promoted.

[/quote]

Hah, been there. I just took a new job but because I was too indispensable at my old job I took most of my old duties with me :P


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post #10 of 13 (permalink) Old 11-20-2008, 10:12 AM
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Re: Ways to prep for layoffs?

Of course depending on your work place you might be indispensable enough that they will promote you within the office to keep you from getting promoted elsewhere (or looking for a job elsewhere).
-Matt
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