6:05, May 5, 2010 by Althea DeBrule under: Career Advice, Career Interruptions, Career Walk, Job Search | No Comments
Layoffs are not fun—for the company nor the worker.
In slow economic times, layoffs are inevitable because companies tend to earn less but spend more.
The result is that workers become jobless casualties through no fault of their own.
These 8 telltale signs can be useful to tell if you might be the next victim of a layoff.
8 Signs of an Impending Layoff
- You work in a business where people-related expenses are the number one expenditure. As a result, the company is in severe cost-cutting mode because of reduced revenue and poor earnings.
- Your company has just lost a major client or contract which your work unit supports, and you’ve watched co-workers and colleagues within your department get laid off one by one as part of the company’s cost-cutting efforts.
- New technology has been introduced that will automate your unit’s work and downsize your department.
- You sense that your job is not secure because the company is in a slowdown period and you work in a staff or support role that does not have direct contact with the customer.
- Your job has been eliminated because the company has decided not to offer a product or service anymore. You’ve been given a specific timeframe in which to find other employment within the company or face a layoff.
- You’ve heard rumors that the company is about to be sold and that talks are underway with potential buyers.
- A business news station reports that your company has just announced its plans to merge with a competitor. You are aware that this competitor has duplicate staff performing the same job you hold.
- The president of your company has called an all staff or town hall meeting to discuss the state of the business. At this meeting she announces an impending layoff. You are notified to attend a special outplacement briefing offsite.
