Be prepared

you should plan for and love your life as if you will be laid off on the coming months. hold off on any unnecessary PTO, contribute to 401k as much as you can, start saving as much as you can, and most importantly start looking for another job. While it would be nice to time things just right where you start a new job right as your 60 day period ends, it's a tough job market right now and may take many months. Also recognize that finding another remote job is getting harder and harder so don't limit yourself.

Good advice from @a6+1jwe76yh9.

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@ax That is if you get displaced and after severance and notice run out.

Depends on your own household wealth. I max out 401k and HSA to reduct taxable income. If you draw from your 401k and you have a boatload of savings you can pull the 401k out tax free in payments because it will be less than taxable income. Now that only applies if you are over a certain age but hey there has to be benefits in getting older

Save to a Roth IRA, you can pull out your contributions at any time tax/penalty free. Helpful for emergencies, and if by some miracle HY doesn't axe you, well, you have extra saved for retirement.

Excellent advice!!!

However, I would reduce your 401k to the company match so you can save even more hard cash.

Thread regarding Wells Fargo & Co. layoffs

Be prepared

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