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  • Other Added - Is Your Company Downsizing? Practical Tips and Valuable Info to Survive a Layoff

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    r a letter of reference.

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    You and your co-workers have seen all the tell-tale signs: Closed door meetings, elimination of overtime hours, senior management meetings with HR and so on. You can feel that change is in the air and you work in a department that is not an income producer. What should you do? What if you are laid off?

    BEFORE THE LAYOFF

    SAVE FOR A RAINY DAY:
    It's time to batten down the hatches and start saving for a rainy day if you haven't done so already. If you already have a direct deposit dedicated to a savings account, increase it. You may want to stop voluntary contributions such as 401(k), charitable contributions, stock purchase, etc. to help increase your savings contribution. After all, paying bills while unemployed is more important than buying company stock.

    UPDATE YOUR RESUME:
    Update it while you still employed. Be sure to mention all software packages and skill sets you have and start sending it out to employment agencies or network with friends outside the company. If the layoff has been announced and is public knowledge, ask your supervisor for a letter of reference.

    BILLS:
    Evaluate any "non-essential" bills such as excessive cable bills, phone bills with loaded features, frivolous spending such as dining out, etc. Cut it down to the bare bones so you know exactly what it takes financially to live mo

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    u do? What if you are laid off?

    BEFORE THE LAYOFF

    SAVE FOR A RAINY DAY:
    It's time to batten down the hatches and start saving for a rainy day if you haven't done so already. If you already have a direct deposit dedicated to a savings account, increase it. You may want to stop voluntary contributions such as 401(k), charitable contributions, stock purchase, etc. to help increase your savings contribution. After all, paying bills while unemployed is more important than buying company stock.

    UPDATE YOUR RESUME:
    Update it while you still employed. Be sure to mention all software packages and skill sets you have and start sending it out to employment agencies or network with friends outside the company. If the layoff has been announced and is public knowledge, ask your supervisor for a letter of reference.

    BILLS:
    Evaluate any "non-essential" bills such as excessive cable bills, phone bills with loaded features, frivolous spending such as dining out, etc. Cut it down to the bare bones so you know exactly what it takes financially to live m

    Open Event Registration On Time
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    . You may want to stop voluntary contributions such as 401(k), charitable contributions, stock purchase, etc. to help increase your savings contribution. After all, paying bills while unemployed is more important than buying company stock.

    UPDATE YOUR RESUME:
    Update it while you still employed. Be sure to mention all software packages and skill sets you have and start sending it out to employment agencies or network with friends outside the company. If the layoff has been announced and is public knowledge, ask your supervisor for a letter of reference.

    BILLS:
    Evaluate any "non-essential" bills such as excessive cable bills, phone bills with loaded features, frivolous spending such as dining out, etc. Cut it down to the bare bones so you know exactly what it takes financially to live m

    Online Scams: How To Avoid Getting Fooled
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    pdate it while you still employed. Be sure to mention all software packages and skill sets you have and start sending it out to employment agencies or network with friends outside the company. If the layoff has been announced and is public knowledge, ask your supervisor for a letter of reference.

    BILLS:
    Evaluate any "non-essential" bills such as excessive cable bills, phone bills with loaded features, frivolous spending such as dining out, etc. Cut it down to the bare bones so you know exactly what it takes financially to live m

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    r a letter of reference.

    BILLS:
    Evaluate any "non-essential" bills such as excessive cable bills, phone bills with loaded features, frivolous spending such as dining out, etc. Cut it down to the bare bones so you know exactly what it takes financially to live month to month should you become unemployed.

    DURING THE LAYOFF:
    Maintain a gracious attitude toward your employer. Remember, you want good references once your employment has ended. Continue your work ethic and do your best. You still have a job to do.

    ASK TO MEET WITH HR:
    Bring a pad and pen with you to ask questions. Some of the items you will need to ask about are: Health Insurance- How much does COBRA cost and how long does it last?
    Other Insurances - Are they portable? What forms do you need to implement?
    401(k) - Ask for rollover forms and any documents with the steps to complete this action. Get the name and phone number of the person in HR that handles this for your financial institution's point of contact.
    Stock - Can you sell shares? How do you notify the company handling stock that you are no longer employed?
    Severance- Can you choose the method of payout? Can you apply for Unemployment benefits while recieving severance? How long will it last?
    When do you recieve your last paycheck? Will automatic deductions such

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