Layoffs and hiring freezes are expected in a troubled economy. Changes in the economy force companies to adjust their workforce. According to a late September Crunchbase News tally, more than 42,000 workers in the U.S. tech sector have been laid off in mass job cuts this year. Even big companies like Netflix were impacted.
It's not surprising that a lot of employees are concerned about losing their job. The loss of one's job can be a devastating experience for many people. Planning ahead for a possible layoff makes it easier to find new work and less impactful to your finances. The economy and the job market are highly unpredictable, and while it's tough to know for sure who will be laid off, taking precautionary actions as early as now is beneficial.
Whether you’re suspecting layoffs in your company or received a layoff letter, career advisor, Sergio Patterson shares the 3 tips to prepare for job loss. Be updated with the current situation of the job market during this economic downturn.
Tune in to The Free Retiree Show!
What you’ll learn in this episode:
- 3 tips to prepare for a recession
- Current job environment during the economic downturn
- Importance of networking and updated resume to attract new jobs easily