{"id":41051,"date":"2022-11-28T10:59:45","date_gmt":"2022-11-28T15:59:45","guid":{"rendered":"https:\/\/www.staffworksinc.com\/?p=41051"},"modified":"2022-11-28T12:02:04","modified_gmt":"2022-11-28T17:02:04","slug":"lay-off-warning-signs-and-what-to-do-when-they-happen","status":"publish","type":"post","link":"https:\/\/www.staffworksinc.com\/2022\/11\/28\/lay-off-warning-signs-and-what-to-do-when-they-happen\/","title":{"rendered":"Layoff Warning Signs & What To Do When They Happen"},"content":{"rendered":"\n

From record-high labor shortages to massive amounts of layoffs, the post-pandemic job market continues to shift. The recession has many companies pulling hiring efforts back. Whether it\u2019s scaling back budgets or industry-specific, we go through the signs that a layoff might be coming to your company and how to best prepare yourself.<\/p>\n\n\n\n

Warning Signs To Look Out For<\/h2>\n\n\n\n
  1. Recognize Which Industries Are Getting Hit The Hardest<\/li><\/ol>\n\n\n\n

    Industries in the technology and online commerce sectors are getting hit especially hard, specifically those that drastically grew during the pandemic. This includes companies like Meta, which reduced the size of their team by 13%<\/a>, laying off 11,000 employees. Zuckerberg took the fault saying,<\/p>\n\n\n\n

    \u201cMany people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected. Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I\u2019d expected.\u201d<\/em><\/p>\n\n\n\n

    When a large sum of customers and businesses moved online due to the pandemic, companies expected it to stay that way, not realizing that everything that goes up must come down. In the past, a recession usually affected blue-collar employees. However, the demand for those workers continues while large sums of white-collar employees are being laid off.<\/p>\n\n\n\n

    1. Keep Track Of The Company\u2019s Financial Status<\/li><\/ol>\n\n\n\n

      It\u2019s difficult not to see layoffs as a personal decision, but it\u2019s simply not. It has much more to do with the company\u2019s poor hiring priorities or significant unexpected changes impacting the business. It\u2019s essential to keep up with your company\u2019s financials in order to predict being laid off. Even if you\u2019re a top earner, do not turn your head when conversations about below-average company earnings and budget cuts rise. Keep an eye on press coverage or company announcements around the subject.<\/p>\n\n\n\n

      1. A Shift In The Culture<\/li><\/ol>\n\n\n\n

        Take a moment to stop and feel the energy of the workplace and ask yourself if it feels different. This could be a shift in transparency and communication among the company\u2019s leaders. It could also look like removing incentives such as no holiday party, no more free parking, or the environment has simply turned hostile. Do not ignore the small signs, all of these could hint at layoffs in the near future.<\/p>\n\n\n\n

        It\u2019s not about waiting for layoffs to happen. It\u2019s about being ready before they happen and setting yourself up to be less vulnerable. A Staffworks recruiter can be a resource<\/a> you keep in your back pocket before a layoff occurs. You can always connect with a recruiter even when you are not looking, just simply being prepared. Allowing us to keep your information on file means it takes one quick call before we start sharing your resume with hiring employers.<\/p>\n\n\n\n

        Post Layoff \u2013 What’s Next?<\/h2>\n\n\n\n