"I was laid off. What do I do now?"
Feb 03, 2023Are you feeling lost after being laid off?
Being laid off is overwhelming and confusing as you try to dust yourself off and get back up. This is not the end. And you are not alone.
According to the Morning Brew, “Spotify became the latest major tech company to announce layoffs this month. The music streaming company announced it would be laying off 6% of its staff, or about 590 employees.β β According to layoffs.fyi, there have already been over 50,000 tech jobs cut in January 2023 from 151 different companies.β ”
So, what happened?
It can be easy to blame yourself and wonder if you did something different could there have been a different outcome. I want to help you see that there is nothing wrong with you. The reality of the situation is out of your control.
In 2021, in the wake of the pandemic, big tech went on a massive spending spree as more people and more of daily life was moving online. Tech companies went all in and spent an insane amount of money. They hired tons of people to spearhead new projects and used money that they didn’t have on hand but predicted would come in later.
Unfortunately, a lot of this growth was speculated growth. Earnings weren’t matching what they were spending.
Now that the market has leveled out, the bill has come due. They put everything on a credit card and now don’t have enough cash to pay the bill. The solution? Layoffs. β
What does this mean for you?
First of all, it’s important for you to acknowledge your emotions.
You’ve spent so much time and effort getting to where you are and being laid off is a huge loss.
I understand how difficult times can be. I want to do what I can to help you find success in the wake of such difficult times.
Understanding where you are and how far you’ve come is the key when it comes to preparing for what’s ahead as you recover from this disruption.
It’s easy to feel alone while you walk through this process. This is why the Chai and Coaching community exists - to help you in your cross-cultural journey in America - especially when you’ve been laid off.
Thanks to some helpful insight from the Harvard Business Review and years working with professionals like yourself, I want to guide you through 8 STEPS THAT YOU CAN FOLLOW AFTER YOU'VE BEEN LAID OFF.
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1. Write Down Your Accomplishments
Your job and this company have given you so many new skills and experiences. Take time to quantify your impact in your previous company. You now have so much more to offer your network and better stories and examples to share when you interview.
2. Getting Clear On What You Want
You likely feel the pressure to find any job at all costs. Rather than applying broadly by looking everywhere, devise a plan to get your dream job. Clarify your industry, your dream company, and your ideal role. Apply only for those roles. It’s more about quality than quantity.
3. Treat Your Job Search Like a 9-5
When you’re scrambling, the job search process can take over every hour of your day. Give yourself boundaries and set hours to work on your job search, like you would in a normal job. Set time aside to attend networking events so that you can build your sphere of influence. Every single day, report your progress or add value to your connections on LinkedIn.
4. Get Accountability
Surround yourself with like-minded job seekers. Invite ambitious and driven individuals like you who will not complain about the situation, but encourage you in it. Taking part in each other’s successes by setting achievable goals together can help everyone reach their full potential - find someone who will cheer you on!
5. Reward Yourself
I’m not going to sugarcoat it, this journey is going to entail a ton of hard work. This is why you need to take time off to do things that are refreshing. The last thing you want to happen is that you battle so hard to get a job and end up walking into a new position beat up and exhausted. Pace yourself and enjoy the journey.
6. Know Your Legal Rights
Take the time to understand your legal rights in regard to the details of your termination. Reaching out for clarity can be a helpful step in ensuring that your interests are secured and any decisions made will have been planned with all facts at hand! Your HR department is key here – ask questions so you know exactly where you stand on visa status, health care coverage, and more. With this knowledge secure under your belt nothing stands between you and an informed future plan of action - stay prepared by staying knowledgeable!
7. End On A Good Note
In challenging times, your network is an invaluable asset. Rather than focusing on shaking things up in the office, it’s far more beneficial to leave a positive impression with those you’ve worked alongside. Doing so could open new doors and lead to exciting future opportunities.
8. Join the WEBINAR: Overcoming US Visa Struggles With Recession Layoffs In 2023β
You can take control and secure your future! Join me and Sophie from Alcorn Immigration on Monday, February 6th for a special webinar designed for international students in your position. You’ll get invaluable insight into how to effectively manage these challenges, as well as guidance on navigating through them.
Now is not the time to give up! Stay connected to the Chai and Coaching community for help and support. Join us for the upcoming webinar and reclaim control over your career trajectory!
Join us for our next webinar!
Have you been laid off, or are worried about being laid off?
Learn about what your best options are in this tough economy!β
Our friend Sophie at Alcorn Immigration is joining us LIVE to help you be best prepared for changes happening with immigration & visa layoffs in 2023.β
π Register now and join us Monday, February 6th (9am PT/12pm ET/10:30pm IST) to learn the best options forward for your US visa.