50% of Employers Expect Job Cuts, Survey Finds. Here's How to Prepare for a Potential Layoff

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Many companies have announced layoffs in recent weeks, and executives expect more are coming — but don't worry yet, there are steps workers can take ahead of time

"People should forget about what's happening in Silicon Valley if they don't work in that space," she said."If you're a project manager in the education or health care space, that's an entirely different ballgame."

"A lot of people today don't have three months of a cash reserve," according to Ted Jenkin, a certified financial planner and CEO of oXYGen Financial, based in Atlanta."If you get fired it's not necessarily true you'll get a severance package." Many people focus on dusting off a resume during times of career transition; but that's not necessarily the key to finding another job, especially for those in more advanced stages of their careers, she said. Personal branding and personal relationships become more essential.

 

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