I don’t even know how to process this. Thankfully it wasn’t through fault of my own given my company went through a merger - but still, I’ve never had this happen.
Not sure if anyone has stories or advice, but just brutal
I went through this last year… sorry you’re having to experience the same! I was let go of a 9 year position out of the blue.
Today: file for unemployment. Florida has the lowest in the nation, but it is better than nothing! Itvtakes time to start, so apply TODAY. PM me if you need help.
Tomorrow: brush up that resume and get to it! Good luck! Send me a copy, I might know a guy.
Company lost a bid for part of their work. New company absorbing most of the employees.
I was told I was safe and my position was intact.
Once the new company announced that they had all the needed employees hired and were ready to absorb the work load, I was let go. 2 weeks prior to me being Vested in the company.
It was a BS move to keep me from going to the other company. The other company had approached me for a Management Job. I chose to stay because I was so close to being vested.
I was out of work for 6 weeks. Had my first child due in months.
Ultimately, the person they had hired for the position they wanted me for didn’t work out, and I ended up with the position anyways.
My advice: Get the resume out as soon as possible. Try to keep a positive mentality; this is easier said than done. Don’t give up; don’t surrender. The next job may not be the one you want, but maybe the one you need.
I’ve been laid off 5 times over the years. Once because of budget cuts, twice because companies closed, once from a computerized layoff at a global company, and once because of COVID-19. After getting your benefits resolved, set a few hours a day for job hunting, but make sure you keep your batteries charged so your mental health doesn’t suffer. Believe it or not, you can REALLY burn out job hunting, then you’re not at your best for potential interviews.
My wife was laid off shortly after we moved to a new city specifically for that job and it can be brutal. Take the time to process your emotions. Some things are outside our control and it behooves us to learn to accept life in its imperfections. Happy to chat if that would be helpful!
I feel this. I helped build up a hedge fund and was there for 5 years as a director. I had essentially built out most locations and datacenters myself or as head of my team as we grew from a company of 10 folks to 70. 1-2 billion in assets to 7.5 billion in assets. It was a roller coaster and when Covid hit the markets shifted and the algorithms we used couldn’t keep up. Ontop of that the volatility daily from the president at the time made things difficult to predict and really threw the past performance doesn’t predict future earning mantra compliance would chant.
All that to say over the course of 2019 to 2021 we had 4 RiF and I had to fire my team, shut down all open offices except to head office which we consolidated to one floor and decommissioned all datacenters and cloud instances moving everything that remained to run out of what remained of the head office and the owners garage…
Everything I built dismantled, everyone I hired let go. Every accomplishment I fought for backtracked. Essentially the firm lost 2 billion in assets to the market and that quickly escalated into all of our customers pulling their funds until we where a family office and no longer held outside funds. 7.5 billion to 900 million in assets in a bit over a year. 70 employees to 8. At the end I was asked to resign as they no longer had funds to pay me and I couldn’t accept a 50% pay cut so my last subordinate remained and I left with nothing. I’m happy the people on my team at least got a severance and got some form of notice. I was only aware of how bad things where because I had connections through out the company and meetings with every director and executive and the owner weekly and knew enough to be very aware of the path we where heading.
It still hurt. I cried dismantling our DC datacenter and loading it in my car to install in the main office. It hurt to fire my friend I hired years back.
I knew every “layoff” was permanent and that we weren’t going to bounce back like we said we would…
The firm lingered for 3 more years after I left and is now officially closing
It hurt. I realized I put allot of my self worth and identity into my career and job and I felt numb and empty.
It was a big shift and I’m healthier for it though. I now have a way better work life balance and my family is the core of my identity.
I don’t have an advice as I didn’t even qualify for unemployment at that point and all I can say is update your resume and hit up all your personal contacts. My current job was a referral from a friend and I owe my well being to the friend even if they aren’t aware how much.
You see… I; of course, would have told you all of these things, had I been of full mental capability. But I knew that if I waited long enough, the good advice would start flowing. I’m just gonna pretend I made that happen.
Seriously, emotions can take a real hold on you right now and nearly handicap you. Especially if things don’t turn around right away. You well know that we are here when you need to vent. Do your best to keep your cool and let reason prevail. It could be tough to tighten the belt but it would be prudent to cut all unnecessary spending until things are no longer uncertain. Please feel free to vent or even reach out. I know it doesn’t really help at all but hang in there buddy.
Similar to me - I took a new position and a merger was announced. I told my boss I was rescinding my app and staying where I was as the department I was going to is notorious industry wise for layoffs
Was told I was good, don’t worry about it - they aren’t doing layoffs - brought in one of her friends in my old position and here I am.
I can see that. I’ve been working non stop since I was 16.
I’ve been looking for about 7 hours straight today and I’m fried.
Mentally - not doing ok, idk how anyone goes through this other than clearly you have too.
I would probably feel a bit different if I was single - but I keep having fears my daughter sickness will return, I’ll run out of benefits and just like - worst case scenario