Regardless, start actively looking now. It can take a while to find a new job. If/when you find a suitable job, then decide wether to wait or not.

Also, separately, one can quietly offer to take the package and leave quietly now. Sometimes, not always, a company will go for that.

Anonymous wrote:

Anonymous wrote:If you don’t have the gold parachute kind of severance, I would start looking immediately. Most places give out what, 2 weeks for every year? It’s not that much.

I’ve been at the company for a long time so I’m going to have a fairly long package (7 months including benefits). But obviously lining up another job could take longer.

Don’t want to look for another role at the company because the commute is too far and I need to be closer to home for my growing kids.

Most recruiting will be on hold this fall while senior management signs off on next year headcount. Then holiday is a quiet time.
So you really only have next winter as prime window of opportunity. I say you should start now.

Anonymous wrote:If you don’t have the gold parachute kind of severance, I would start looking immediately. Most places give out what, 2 weeks for every year? It’s not that much.

I’ve been at the company for a long time so I’m going to have a fairly long package (7 months including benefits). But obviously lining up another job could take longer.

Don’t want to look for another role at the company because the commute is too far and I need to be closer to home for my growing kids.

If you don’t have the gold parachute kind of severance, I would start looking immediately. Most places give out what, 2 weeks for every year? It’s not that much.

Anonymous wrote:I would start looking, and for the perfect opportunity, I would leave. But, if the right opportunity came along, and you knew it really was 6 months away (not 8, not 12), given that finding a job can take several months, and that the hiring process takes several months, I would explain to new company that you're getting a bonus worth $75k (or however much the package is) and ask them to wait.

This is a good answer except the last bit. If you did find the perfect opportunity, I'd give up the severance. I have lost a job offer just asking if the start date could be delayed, and was underemployed for most of a year after, you can't always 100% optimize.

If household not dependent on your salary, I would wait for the severance package - and hopefully you can double dip with new job.
If not, you don’t sound too worried, just have updated resume ready to go.

I would start looking, and for the perfect opportunity, I would leave. But, if the right opportunity came along, and you knew it really was 6 months away (not 8, not 12), given that finding a job can take several months, and that the hiring process takes several months, I would explain to new company that you're getting a bonus worth $75k (or however much the package is) and ask them to wait.

If you knew your department was going to be dissolved within six months and you wanted to leave the company, would you wait for the exit package (it would be a good package with over seven months of pay and benefits) or try to land another job now before that happens?

I am not the primary breadwinner in our home, but my income isn’t insignificant either. We can afford for me to take some time off and focus on the kids if I took awhile to find something else.

I am anxious waiting out my package, but on the other hand, it feels like if I’m going to leave the company, might as well do so with severance, right?