This a shock and a major event in your life. It's ok to feel sad, angry and wallow around. It's ok to cry and give yourself some time to process this and watch netflix all weekend. Take care of yourself and do what you feel you need to do.
Things To Do Post Layoff:
- Set up zoom or actual phone calls with friends and former coworkers to talk, vent and share information. Build your tribe!
- File for unemployment in your state.
- Look into whether you want to change your tax exemptions for your paychecks and severance check so you have more take home pay.
- If you’re contributing to the 401K, call them and change your contributions to Zero. This should keep your contributions from being deducted from your paychecks and from your severance check. You want to have more take home pay and money in your bank account to help get you through your layoff period.
- Decide if you want to sign the severance agreement. Put a reminder on your calendar to send it in before the due date.
- Update your resume with your most recent job duties.
- Ask friends and connections to look over your resume and provide feedback. People really do want to help you!
- Update your LInkedIn profile and start reaching out to your connections. Ask them to post a recommendation for you on your profile.
- Reach out to your network. Ask them about recruiters, job leads or people in their network.
- Look through job postings to get ideas of what's out there and what you might want to do. Do you want to do the same thing or are you ready to try something different?
- Take advantage of career displacement services and career coaching.
- Read through the COBRA documents and look at your benefit options. Put a reminder on your calendar for these deadlines.
- Sign up for insurance and benefits through your spouse or partner if you can.
- See your doctors and refill any pr-scrip-ions before your insurance coverage ends. Explain your situation to your doctor and discuss options for getting your medications when you no longer have insurance coverage.
- Speak with your financial adviser or find one to discuss your financial situation. Make a plan and know your options.
- Roll over your 401k to your personal retirement account like an IRA or a Roth IRA. If you don't have one, then speak with your financial adviser to help you. You can keep your money in the company 401k, but sometimes it’s best to roll it over now before you forget about it. Plus you have more control over your money if it’s in your personal retirement accounts.
- Look into state programs and resources that are available to you. For example Minnesota offers a Dislocated Worker Program and helps you with your job search, retraining and new skill development. It's a great program! https://mn.gov/deed/programs-services/dislocated-worker/
ASK FOR HELP IF YOU NEED IT. Whether you need mental, physical or financial assistance, it's ok to ask for help.
YOU ARE NOT ALONE. You are not the only one in this situation.
You will get through this!