teach me about corporate careers during recessions

[Anonymous]

anyone know how best to navigate? i survived three layoffs since october. i am in a fortune 500. i notice they are rehiring at a lower payscale and I am getting too expensive now (from previously being underpaid). i am 8 years with the company....eek! do i wait for them to lay me off? or do i actively move but then my severance is gonna be shorter? i dont know how reliable severance is

[Anonymous]

Start interviewing and have multiple irons in the fire. You either leave for a better opportunity or time it right so you get a new job offer on the heels of severance and make bank.

[Anonymous]

Anonymous wrote:Start interviewing and have multiple irons in the fire. You either leave for a better opportunity or time it right so you get a new job offer on the heels of severance and make bank.

Isn't that risky in a recession, though I know Last In First Out is less a thing now..

[Anonymous]

Start looking into switching industries. There are ways your skills are transferrable. In this situation, you should always be interviewing, until you find a more stable job.

I work for a Fortune 500 travel company (Hilton, Marriott, Choice, etc.) that was hit HARD by the pandemic, more than 1/3 of corporate was let go or left. I had been there more than 10 years and had let my contacts and interviewing languish. I will not make that mistake again.

Legitimately try to find a better, more stable job right now, get an offer, and THEN make decisions, when you have one to make.

[Anonymous]

Personally, I would wait. Especially since you've been retained through three rounds. I'd keep focusing on doing well.

[Anonymous]

Assuming you like your job, I would stay but also be lightly networking to keep contacts warm and stay abreast of potential opportunities. Start connecting with old contacts and coworkers in town for lunch or coffee once a month, be updated, helpful and visible on LinkedIn, leverage your network for others (which also improves your profile and strengthens your contacts).

When I do this I usually start hearing about potential opportunities even if they are not ones I would immediately go for, it’s good to know what’s out there.