Are you in a tech company or just getting started with a technical career and concerned about layoffs in 2023?
Maybe you are an employee of such companies and worried that it might affect you as well? or maybe unfortunately you are already affected. Layoffs aren’t beneficial to employers yet most of the company follow this strategy for many different reasons. However, the employee prone to lay off can always find their way back to better opportunities.
In this article, we will guide you with what you can do Pre Layoffs, whilst layoff and Post Layoff, to not be affected or least affected by the layoffs.
What is the reason behind Tech Layoffs?
It’s worth noting that layoffs can occur in any industry and can be caused by a variety of factors, including market conditions, company performance, and changes in technology.
- The COVID-19 pandemic: It had a major impact on the economy and led to widespread layoffs in many industries, including technology. Many companies have had to adjust their operations and cut costs in order to weather the economic downturn caused by the pandemic.
- Company restructuring: Sometimes companies will restructure their operations in order to cut costs, which can lead to layoffs.
- Mergers and acquisitions: When two companies merge or one company acquires another, there can be an overlap in personnel, which can lead to layoffs.
- Market conditions: If a company’s industry is facing difficult market conditions, such as increased competition or reduced demand, the company may need to cut costs in order to remain profitable, which can lead to layoffs.
- Poor performance: In some cases, individuals may be laid off due to poor performance, either at the individual or company level.
Steps to be taken before Layoffs Happen
If you think that your company may be planning layoffs, there are a few things that you can do to prepare:
- Update your resume and LinkedIn profile: Make sure that your resume and LinkedIn profile are up-to-date and accurately reflect your skills and experience. This will make it easier for you to apply for jobs if you are laid off.
- Network: Reach out to your professional contacts and let them know that you are looking for new opportunities. They may be able to provide you with job leads or referrals.
- Research job opportunities: Look into what types of jobs are in demand in your industry and location. This will help you to identify potential job opportunities that you may be qualified for if you are laid off.
- Improve your skills: Take online courses or attend workshops to learn new skills that will make you more marketable.
- Get your Finances in order: Layoffs could mean a loss of income, try to identify areas where you could cut back on expenses and create a budget.
- Consider other options: Check if you’re eligible for unemployment benefits and research other assistance programs that may be available to you
- Communicate with your manager: If possible, try to have an open conversation with your manager about your concerns and the situation in the company. They might be able to provide you with some more information about what’s happening, but more importantly, it gives you an opportunity to express your value to the company and see if there’s any opportunity for alternative roles.
Remember, it’s always best to be proactive and take steps to prepare for the possibility of layoffs, rather than waiting until it happens to start thinking about what to do next.
What to do if your company starts to lay off?
If your company starts to lay off employees, it can be a difficult and uncertain time. Here are a few things you can do to help cope with the situation:
- Understand the layoff process: Try to get a clear understanding of the layoff process and what you can expect. For example, find out if there will be a severance package, how long it will last, and if there is any possibility of recall.
- Prioritize self-care: Taking care of yourself is important during this stressful time. Try to maintain a regular routine, stay active, and spend time with friends and family.
- Seek out support: Talk to friends, family, or a therapist about your feelings and concerns. Consider joining a support group for people who have been laid off, as well.
- Take advantage of any resources offered: Many companies offer resources such as outplacement services, job search assistance, and resume-writing workshops to laid-off employees. Take advantage of these resources as they can be helpful in your job search.
- Start your job search: Once you have processed the shock of the layoff, try to start your job search as soon as possible. Reach out to your network, update your resume, and start applying for jobs.
- Stay positive: Remember that you are not alone in this situation. Many people have been laid off and gone on to find new and even better opportunities. Keep a positive attitude and stay motivated throughout your job search.
- Check on benefits: Check on any benefits you may have like unemployment insurance, healthcare, and any other benefits you may have through your company.
It’s important to remember that being laid off is not a reflection of your worth or value as a person or employee. There are many reasons why a company may have to lay off employees, and it’s not a personal failure.
What to do post getting hired after a layoff?
First of all, Congratulate yourself for making it through tough times and landing a new opportunity! and If you have been hired after being laid off, there are a few things you can do to make the transition as smooth as possible:
- Learn about the company: Before starting your new job, take the time to learn about the company and its culture. Read the company’s website and any other materials you can find to understand its mission, values, and goals.
- Meet your new colleagues: Make an effort to get to know your new colleagues as soon as possible. Introduce yourself, ask them about their role in the company, and try to find common ground.
- Learn about your new role: Make sure you understand the expectations and responsibilities of your new role. Ask your manager or colleagues for more information and clarification if needed.
- Take notes: Write down any important information about the company, your role, and your colleagues. This will help you to remember important details and make it easier to adjust to your new job.
- Be patient: Remember that it may take some time to adjust to your new job and the company culture. Be patient with yourself as you get acclimated, and don’t hesitate to ask for help if you need it.
- Be open to learning: Be open to learning new skills, processes, and ways of working. This can be a great opportunity to improve and gain new experience.
- Reflect on the past: Reflect on the experience you had during your last job, and think about what you learned, what you enjoyed, and what you didn’t. This could be helpful to identify what you want to look for in your new role.
- Show appreciation: Show appreciation to your new employer for the opportunity and for their trust in you. Being grateful and professional will help you to be successful in the long run.
Keep in mind that it’s normal to feel a mix of emotions during this transition and it may take some time to adjust to your new role and environment. Stay positive and focus on making the most of this new opportunity.
Be it dealing with situations like a layoff or not, it is always better to be proactive in shaping your career and attracting new opportunities via skilling up and networking. So, keep learning and keep growing irrespective of situations.
Thank you for taking the time and reading this article. We would love to know your ways of tackling situations so please comment below your ways too!