If rumors are swirling or meeting invites look suspicious, it's time to go into protection mode. Hope for the best, but prepare for the worst. Taking these steps while you still have access to company systems is critical.

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What to do if you suspect a layoff

What to do if you suspect a layoff

TL;DR: Secure your personal data, update your resume immediately, and minimize spending.

If rumors are swirling or meeting invites look suspicious, it's time to go into protection mode. Hope for the best, but prepare for the worst. Taking these steps while you still have access to company systems is critical.

Step-by-Step Guide

  1. Retrieve your personal data: Remove personal files from your work laptop. Download copies of your paystubs, W-2s/tax forms, and performance reviews. Save contact info for clients or colleagues you want to stay in touch with (do not steal proprietary data/lists).
  2. Update your resume and LinkedIn: Do this tonight. It is easier to write about your achievements while they are fresh. Turn on 'Open to Work' on LinkedIn (you can set it to 'Recruiters Only' to hide it from your current employer).
  3. Cut discretionary spending: Pause subscriptions, delay big purchases, and preserve cash. If the layoff happens, cash is your lifeline.
  4. Use your benefits: If you have pending medical appointments, dental work, or vision checks, book them immediately while insurance is active.

FAQ

Should I quit before I get laid off?

Generally, no. If you quit, you usually forfeit unemployment benefits and severance packages.

Can I keep my work laptop?

Almost certainly no. Prepare to hand it over immediately.

What about my 401k?

It is yours. You can leave it there, or roll it over to an IRA later. Don't panic about it now.

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