when everyone is so nervous about getting laid off? Is there anything that I can do to avoid being laid off at my current company, or at a new company immediately after starting?
First and foremost, performance is critical to setting yourself up to keep your current position. While some companies may eliminate entire departments to increase cost savings, others may opt to get rid of low performers, since it’s much easier to lay off workers than terminate them during a time of recession. In other words, this isn’t the time to.
It’s also crucial that you remain adaptable and flexible. During an economic downturn, companies may need to make adjustments in order to pivot the business and retain key employees. This could include instructing you to take on additional responsibilities or a new role that you may not be excited about. If that happens, respond by positioning yourself as a resilient, team player.
If your company is experiencing financial difficulties, such as declining revenues, profit losses, or cash-flow problems, it may signal that layoffs are imminent. Watch out for cost-cutting measures, such as reducing employee benefits, freezing hiring, implementing furloughs, or scaling back on existing projects. These actions are often taken to reduce expenses and streamline operations.