Getting laid off, most likely

[Anonymous]

If you were certain you were getting laid off at some point in the next couple months, would you wait to see what the severance is, or go ahead and find a new job (if you could find one) and leave now?

[Anonymous]

i would absolutely look now.

[Anonymous]

No doubt that I would look for a new job and accept one if I was offered. In this economy, risk doesn't make sense, especially if you have a family that is counting on your income.

[Anonymous]

If I didn't have friends in high places who could give me the info, I'd go to HR and ask what the severance is likely to be.

[Anonymous]

Start looking now. If you see something great, then you can take it. But the time and the idea that a severance is likely also takes some of the pressure off so you don't have to just take the first thing you see.

Good luck... My boss just told me that we are losing five clients this year so not to make any life decisions right now. I'm pregnant and about to pop out my first kid and DH and I just bought a new house. Good thing he told me NOW not to make any life decisions! Not that we would have done anything differently, but still.

[Anonymous]

This is a no brainer, I would look NOW.

I have a friend who has been out of work for a year now and can't find anything that will cover daycare for 2 kids. She now has to lean on her parents to help pay their mortgage. She got a severance too, but being out of work for over a year really hurts.

[Anonymous]

Anonymous wrote:This is a no brainer, I would look NOW.

I have a friend who has been out of work for a year now and can't find anything that will cover daycare for 2 kids. She now has to lean on her parents to help pay their mortgage. She got a severance too, but being out of work for over a year really hurts.

Agreed.
Start looking for a new job, now.
Clearly, something must have happened for you to be weary.

[Anonymous]

Thanks. Sometimes it's hard for me to think clearly when the situation is my own. I got the word from someone in the know, but we're not actually supposed to know yet so I can't ask HR about severance at this point.

I'm going to have a difficult time finding anything that pays anywhere near my current salary. I've been looking at the job announcements since our first round of layoffs. I'm in an industry where it's now standard to have a master's degree even for low-level jobs, and I don't have one. I'm in school working on it, but have lots of classes still to go. I'm playing with the idea of just waiting for the severance and then going to school full-time and taking loans out to pay expenses. And hope that in another year with a master's degree completed I would be able to get something decent. I don't know if that is a good thing to do, though. My gut is telling me keep working if I can because what if the economy still sucks when I get the degree and then I have massive student loans to pay off and no job. Maybe there just isn't any good answer.

[Anonymous]

Don't count yourself out .....

your experience and demonstrated commitment to continued education may go far in the interviewing process.

[Anonymous]

Good luck, OP!

[Anonymous]

don't go into debt to get a Masters with the sole goal of getting a better job out of it, unless you are positive that it would help you get a better, better-paying job. make sure you'll still be happy you got the degree even if you never get a better job or make more money because of it. I got an MBA (Finance, from a good school) a few years ago, and while it helped me get the last couple of jobs I had, it hasn't guaranteed the income or job security I had hoped it would. And I absolutely do not need the degree or the skills I learned to do the job I'm doing now. I'm not sorry I got the degree, and I'm proud of myself for donig it, but it cost me $40K and I'm probably not making more than I would have without it.

would agree with the other posters that you should start looking for a job now. If you find a job quickly, you might miss out on severance, but you'd have a job and income. If you find a job a little less quickly, you might be able to work it so you get laid off, get the severance and then start your new job. Would hate to count on getting a great severance package and then get a small sum that wouldn't help much.

Good luck!

[Anonymous]

There was an article in the WSJ in the last few days, "Only the Employed Need Apply?". The main point was that many employers, even in this economy, only want to hire people who are currently employed, and won't even consider those who are unemployed. (I personally hope the article is wrong, as I am currently out of work and looking, and if true, that's just depressing). To that effect, I would start looking now. If you get an offer before you're laid off, you'll be in a much better position to negotiate. At the very minimum, I would start working on your resume, updating your contacts, etc. Good luck! I've been out of work since December, and the market sucks right now!

Here is the article (available publicly, w/out subscription): http://online.wsj.com/article/SB10001424052970203872404574257983795638374.html

[Anonymous]

I feel for you OP. Do you know any of the people laid off in the first round of cuts who might give you information on their severance? Group layoffs tend to mean standardized severance for all (although you can always negotiate). While there is really no rules for severance (unless you have a contract that says otherwise, I believe we are all "at will" employees), many companies give x week(s) of pay for every year of service. My fortune 500 company offered 2 weeks for every year for the people laid off a few months ago. You can also negotiate for things like employer paid COBRA or continued health coverage, outplacement services, etc. If your company was paying your education costs, see if you can register for the next semester now and have it paid (if they pay upfront).

I would definitely get your resume out and start interviewing. It could take months to get hired.

I hope you get both severance and a new job!

[Anonymous]

Don't most companies give you the balance of your PTO and a week or 2 for every year of service? I can't imagine there is much generosity at this point in time.

[Anonymous]

OP here. I'm going to start working on my resume tonight and start looking immediately. I can't believe I was considering not doing that.

I absolutely must get the master's degree to continue in this career path. I actually cannot even work for the government or for a university without the degree, except in an entry-level position. So without it I've severely limited my options.

Unfortunately, we no longer get paid for unused PTO as of this year.

Prior layoff, average severance was 4 months. But who knows what they will do this time.

Hopefully I can find something before I get laid off. I think I will do the going back to school full-time option as a last resort. Thanks for everyone's advice. You woke me up!