how do you handle a job loss?

@BYOLA2871 (4373)
South Africa
May 12, 2009 10:14am CST
The global economic situation has made situation has made things so bad that many companies are downsizing,cutting jobs and laying off their workers even the so called industry giants are not leftout of this situation,i have seen instances where peopel get frustrated when they are given letters of retrenchment .Tell me how does on handle this with the serious crisis in the global community?
2 responses
@technoobs (406)
• Philippines
8 Jun 09
I am too aware of hearing that happening world wide. I can also see that in the job list from our account to have decreased but still struggling to deliver its services. I already do have thoughts of that retrenchment which is really career breaking to those of our friends out there, including me. Having to respond in this situation is very much challenging to as how we have applied to our first job. Since on some other situations,like mine, I am having to set some goals to improve and add some more skills since its the very needs of companies today regardless of the retrenchment period. I made research to what would be a good course that can be handled as a full time time at the same time a part time job. Its lucky to always have both technical and academic backgrounds as to per requirement of today's needed workers. Acquiring more skills and upgrading is one of solutions to have it a firm and secure way in achieving career as well as counter retrenchment. Having skills that can be used as sidelines is much prominent to have.
• United States
12 May 09
The best way to handle a situation like this is to start before it ever happens! Prepare yourself for the possibility of a job loss. *Always set money aside each month. This will help you to have a savings that can act as a safety net. Putting aside as much money as possible each month will help you to pay your bills if your income is lost. It will also teach you how to live on less money - so you wont have to replace 100% of your income right away just to get through each day! *Keep your resume updated. Update the information at least every six months. If you get a promotion or a new job, update your resume immediately. It is much easier to remember details of a job while it is fresh in your mind than 3 years after it ended! *Make yourself valuable in your current position. This wont always save your job. However, if there are 10 people in the same position and they have to cut 5 of the jobs, the ones who are always working the hardest and doing their best are much more likely to retain their jobs! Honestly, I have no idea what someone should do if they havent prepared for a job loss but it happens. Unfortunately, I dont think there are a lot of options besides looking for a new job and hoping that unemployment is enough to get you through until then!