If you knew ahead of time about a job loss

[saraha]

If you or your husband has been laid off, let go, had their job outsourced etc. can you answer a few questions for me?

 

My husband's midlevel supervisor job may or may not (but probably) be going to India. It won't happen right away, more like the next year or two. If you knew ahead of time, how did you prepare? I know obviously to be saving money, but how did you prepare for a career change? Especially if you are in a specialized job and it was to be your CAREER, you know, the place you retired from.

 

If you didn't have advanced knowledge, what do you wish you could have done?

 

Thanks,

Sarah

[Dandelion]

I was laid off from my job almost 4 years ago (I was a mid-level department manager at a tech company). I knew about the layoff 2 years in advance (the corporation I worked for closed down our entire Colorado Springs manufacturing facility - everyone either relocated or took the severance package).

 

My situation was slightly different in that I ultimately decided to stay home full-time after the layoff in order to homeschool (so I wasn't focused on finding a new job and/or preparing for a career change). However, below are some takeaways from both my own experience as well as from what I observed with my colleagues (most of whom did return to work elsewhere):

• start or ramp up your networking efforts - and connect with those new contacts via LinkedIn when possible (companies are increasingly checking LinkedIn profiles for job candidates, so that's probably the best place to consolidate your professional "online presence")
  
• ask current colleagues and supervisors to write recommendations for you and "endorse" you on LinkedIn
  
• take advantage of any in-house training courses offered by your current company that would enhance your resume (I really wish I would have taken the Six Sigma training offered by my company - I could have become Six Sigma certified for free, but this training would now cost me $2-3K)
  
• begin pursuing any professional certifications that might make you a stronger candidate for the type of position you'll be applying for after the layoff (i.e. PMP certification, etc.) - some certifications require you to complete an actual project in a work setting in order to become certified, which is difficult or impossible to do after you've been laid off
  
• if considering a career change, see whether anyone at your current company has a job similar to the type of job you're considering for your career change - ask them whether they'd be willing to meet with you and share with you what they like/dislike about their job, how to best prepare for a move into that type of job, classes to take, etc. Better yet, see if you can "shadow" them for a day to really get a feel for it.
  

That's all I can think of for now. It's great that your DH knows about this possibility well in advance - hope he's able to prepare well for the next chapter in his career!

[Freckles]

I'm not sure I have great words of wisdom, but we have had to change our "career" three times due to circumstances out of our control. Each time my husband or myself have gone back to school/training for a new field. It hasn't been easy, but we've survived. I hope things turn out well for you.

[besroma]

In addition to ramping up networking, I would start working on a resume.

 

Even with good resume writing skills, it takes a long time to update a resume and to tailor it to the current market.

 

We made hard copy (pretty) resumes on nice paper and searchable resumes on lesser quality paper because so many companies scan the resumes they receive into databases. The searchable resumes included all of the important key words in an easily searchable format. You can read about this in current resume writing books.

 

It is also important to edit the resume to fit each job posting, making certain to include key words in the resume that are in the job posting so that his resume will come up in a search. He might list one of his qualities as "amiable," but if they say they are looking for someone "friendly," he increases the odds of his resume being seen if he uses the word "friendly" and "writes" his resume to match the job listing as close as possible.

 

If he is in the tech industry. I would recommend taking both resumes to job tech fairs if he ends up looking for a job.

 

If he is able to keep his job, it is always nice to have an update resume.....much less stressful if he ends up needing one later.

[jewellsmommy]

Are there any certifications, special trainings, or additional education that could be added over the next year? I think that could be of benefit to help set your dh apart in the job market.

[....]

Last time this happened to us, my husband was unemployed for almost a year. First, I would turn off everything that isn't mission-essential. Turn off cable, stop any memberships, etc (if you even have these). Then, I would go over my budget and see what I can reduce and start stashing as much money as possible into the savings. When my husband lost his job, we called all of the banks that we had loans from (car payments, mortgage, etc) and asked if they would defer payments during unemployment. One bank actually said, "Yes." So, at least we had one car payment that we didn't have to pay while he was looking for another job. Also, make sure you have a suit for an interview and a second shirt/tie for the second interview. I would spend the money to get his resume professionally done. It was worth it to us. Look into any extra certifications he could earn in the next year - like Six Sigma or something. If you think he only has a year left, I would just jump ship and start looking now.

[nono]

Yes, I knew my dh's job was heading for the toilet almost from the moment he joined his new company. I was fairly draconian to our budget. My dh? He did nothing to prepare for being laid off until it was close to happening. He looks great on paper, and has never had a problem getting an interview. Once he landed the interview, he always got the job offer. Not this time. Hardly could get an interview. Would make it through the rounds and never got an offer. And it took him a LOOONNNGGG time to come around to the idea that he could make a go of it on his own, with our own family business. All, the while I was dealing with all the finances without any cash inflow. Something changed close to the one year laid off mark. He decided his hobby could be his business. Now, his company is getting off the ground, which is great. I've had to dig into savings quite a bit as time went by. And, he got on my rear about it! HA! Really? I've been in "lay off mode" for a year+ more than you buddy! :bored: Perhaps if you had been on the same time schedule as me, I would not have had to dig into savings as much. :laugh:

 

(Don't worry, I am chuckling as I write that out above, and I was chuckling when I expressed my feeling about it.) I just wanted to give you an example of some of the "testiness" that might come up as you go through this transition. You've received excellent advice from others regarding prepping for the job market. Regardless, you can get through this, I promise!

[applethyme]

I agree with the oop on what to do to find another job. On the home front I would be stockpiling food, cleaning supplies and other things I would need for the next year (including a couple things that could be used as Christmas or birthday gifts for the kids). I would make sure I had new socks and underwear for the kids in the size or two bigger than what they wear. I would focus on having on hand the things that I would not have money for but are essential such as clothes and food. I would also pay down as much debt as possible.

 

If you have to apply for any assistance they will ask about your assets but not how much flour, sugar, cleaning supplies ect you have on hand.

[CalicoKat]

in addition to any additional certificiations, training, DH wishes he would have gotten those endorsements and recommendations from colleagues for his Linked In before he was laid off.

 

Start working on his resume too. It's a work in progress but it's nice to have that ready to mail out ASAP.

 

Get his interview outfit in order while you still have cash.

 

Does he have a company phone or computer? He's going to need one of each for his home office-until-employment. DH was able to port his company phone number to his new personal phone. That was helpful so he didn't lose touch with his network. He used that phone number for his resume too.

 

Be aware though that you do get extensions and additional unemployment benefits if he can prove his lay off was because of offshoring. DH had saved a memo that indicated this. You'll have to get this kind of information in advance though because once he's laid off it can be difficult. His company was pretty careful to keep that information out of his layoff paperwork. It just said, "your position has been eliminated."

 

COBRA! Know how it works so you don't get burned. Get all your kids through their appointments for the year on your current medical plan.

 

We did visit a financial planner, several times, to help with the difficult $$ decisions. We knew in advance what the re-hire salaries for his type of work typically were and we knew that we'd never make it on that salary with all our other financial commitments.

 

We also started snow-balling to eliminate any debt. We had only house debt the day he was actually laid off.

 

I found this book, Organized Simplicity, encouraging when changes have happened too fast for comfort. We've wanted to live intentionally for years but always felt trapped. I think we'll look back on his layoff as the thing that saved us from a mediocre life. But that's not to say it was easy.

 

:grouphug:

 

My DH worked at a company for 16 years, and then they had him train his replacement in India before they eliminated his position. Sucks. But it's a good reminder that your husband's company is loyalty is to the bottom line, always.

[CalicoKat]

I agree with the oop on what to do to find another job. On the home front I would be stockpiling food, cleaning supplies and other things I would need for the next year (including a couple things that could be used as Christmas or birthday gifts for the kids). I would make sure I had new socks and underwear for the kids in the size or two bigger than what they wear. I would focus on having on hand the things that I would not have money for but are essential such as clothes and food. I would also pay down as much debt as possible.

 

If you have to apply for any assistance they will ask about your assets but not how much flour, sugar, cleaning supplies ect you have on hand.

 

:iagree:

[HollyDay]

We went through that a couple years ago. It is not easy for sure. You are correct that saving money is certainly a big priority. So is starting the job search. Some other ideas to consider...... Make a list of all the homeschool books and resources you know you will need in the next couple years. Keep that list with you and start looking at book sales. With enough lead time, you can hunt for bargains. Do the same thing with clothes and other household things. As the time gets closer, begin to stockpile the pantry with non parishable foods to stretch your budget. I bought a few things extra every grocery trip so my budget did not take a hit, but the supplies (rice, sugar, flour, canned goods, spices, oatmeal, toilet paper, paper towels, ziplocks, etc) began to add up. Of course, you need to store them properly to maintain their shelf life. I did the same thing with "pharmacy" things like deoderant, contact lens solutions, pain relievers, allergy relief, etc. Buying 1 or 2 periodically, making sure they have a long exp. date, can stock your shelves. Make sure your sheets and towels are in good condition now and not about to split or tear. If you find a good bargain, put a set or 2 away. Take advantange of after Christmas sales when they roll around if you can.

[texasmama]

Lots of good advice given, and I would stress the plan for refinancing/home equity loan/etc. in case cash flow is needed. It is amazingly difficult to predict how long a person might be without a job. My dh has been through a six month unemployment and several periods lasing various time frames in which he sought out full time employment while running a struggling self-started business. A friend of ours worked for the same company for almost 20 years, was laid off and has been unemployed now for 2 years while steadily looking for work. I am an "emergency planner" anyway and would be planning for the very worst case scenario financially because that would be the piece of things I could impact most. It would be dh's job to find a job and mine to figure out how to make the nuts and bolts work in the meantime. FWIW, during one of these "looking for a job" times for him, I worked first part time and then full time for nine months while juggling homeschooling. I am back to part time now, thankfully. If you have employable skills, now is the time to dust those off and mentally prepare that your role may change some. I would have never predicted that I would need to work full-time while homeschooling, so it really blind-sided me. We also did some practical things like refinance our home while we had my full-time salary/proof of income which made our situation more workable. Maybe you will not need these ideas, but it is not a bad idea to broaden your thinking about it just in case. Good luck!

[saraha]

Thank you all so much! I am pretty sure we would have to move or he will have to take on a significant commute, we live in an economically depressed rural area, which is great if you have a good job, cost of living is low, family is here, but his company is the only place locally to work and make a decent wage. It was bought out by an investment company, and what was once a great local atmosphere where everyone looked out for each other, went to church/ school together is about to be all about the bottom line. He hasn't gotten a definite word, but jobs are moving to India, it is just a matter of time to see which ones.

Thank you for the tip to save anything that ties to the move, I wouldn't have thought of that. Of course, I don't know what they are saying exactly and if there is any paper... I just don't want to be blindsided. I feel terrible for the workers. In my husband's dept alone, he has a neighbor, a woman who taught him in highschool, 2 women from our church, our son's boy scout leader, our daughter's girl scout leader and a woman who used to babysit him when he was young. These are people he not only works with, but are a part of each other's lives.

[saraha]

Just bumping