So far in 2024, there have been 100+ layoffs and 25k+ employees laid off in tech alone (and many more in other industries). Whether you have recently been affected by these layoffs or just want to be prepared in the event that you experience a layoff in the future, you've come to the right place.
Below, we'll cover exactly what you should do during and immediately after experiencing a layoff to set yourself up for your next career opportunity.
If you have been recently laid off -- click here or below to get access to a FREE month of Ramped Premium job search resources.
1) Navigate the layoff conversation
The reality: once you’ve been tabbed for a layoff, there’s no going back. Recent viral videos notwithstanding, it’s usually not worth fighting / arguing about it.
Focus on understanding the circumstances around your layoff and potential benefits.
Take notes on feedback given (if any), reasoning, severance, etc. Avoid burning any bridges.
2) Assess the layoff circumstances
Some companies will provide a severance package, some won’t. If they do -- make sure you understand what you’re getting before you agree.
How much, for how long, etc. In other cases, companies may ask you to sign an NDA or other documents related to your termination.
Ask a friend to help review everything.
3) Establish benefits timeline
You want to map out what income you’ll be getting for how long. As part of that, you should apply for unemployment benefits, which will replace some of your lost income.
Laws vary based on states, so do your research on what you’re eligible for using the US Department of Labor guidelines.
Once you know all the inputs, create a timeline for when you’ll need a new job.
4) Take a few days to reflect
After you’ve gone through the initial steps to secure benefits, you should pause. Reflect on where you’re at in your career and what you’re looking for next.
Are there things about your last job that you want to find again, or avoid?
Write down what you want to prioritize in your next job search. This can include things like:
- Compensation
- Work / life balance
- Role or career path
- Health or other benefits
- Location (including remote vs. hybrid vs. in person)
5) Update your application materials
Take a few days to update your resume and create a basic cover letter template. You can use Ramped's AI Resume Builder and Cover Letter Writer for free by signing up for an account here.
Add new experiences, refine old bullet points, and cater it to your job search goal.
Have a few friends take a look and provide feedback. Now, as you start to enter the job search, you’ll have something ready to share.
In addition to updating your resume, you should also update your Linkedin profile. Most employers look at your Linkedin and more and more often use it as a way to evaluate your candidacy beyond your resume.
If you're looking for a refresh on your Linkedin, we offer Linkedin Teardowns which are custom videos providing specific recommendations for you to improve your online presence. They look like this.
You can purchase one here if interested.
6) Reach out to your “close network”
Touch base with the people you know are in your corner. Close friends / family. Former managers and colleagues you trust.
Update then on your situation and what you’re looking for next.
Ask for:
- Opportunities
- Introductions to relevant connections
7) Share an update with your network
Share your job search with your broader Linkedin network.
Create a post that outlines:
- Recent experience with your company
- Your areas of expertise
- What you’re looking for next
Ask for referrals / connections. This will help generate passive opportunities from your network.
Here is an example template of a post you can make:
[Insert intro]. After an incredible [period of time] working with [XYZ company], I'm back on the job hunt due to tough market conditions and company restructuring.
I am actively seeking opportunities to [insert job role] in the [insert ideal industry sectors], ideally through:
- [Insert role interest #1]
- [Insert role interest #2]
- [Insert role interest #3]
My preference would be to join somewhere [insert location preference if you have one], but I am open to remote or relocating for the right opportunity.
In the past, I have experience with:
- [Insert experience bullet point #1]
- [Insert experience bullet point #2]
- [Insert experience bullet point #3]
Please comment or reach out to me if any of the resonates with you! I'm eager to find what's next and ready to join a new team. If you are hiring, I am happy to share my story, CV, and portfolio in greater detail.
8) Set up informational interviews
After collecting connections from your network, set up time to meet with potential leads. Learn about their roles, any available opportunities, and advice. Ask for additional relevant connections or referrals to any internal opportunities.
Your goal is to create a flywheel of new connections to meet with 2-3x a week.
For more information on how to nail informational interviews, you can review our guide from a recent edition of our Just Get Hired newsletter.
9) Commit to the job search cycle
The job search can be a grind, so make sure you go in knowing it’s a marathon.
Create a system that works for you. We recommend something like:
- 2-3x informational interviews / week
- 20-30 job applications / week
- Pick 3-5 companies to go deeper on per month
Rely on your support system and stay the course as you navigate rejections.
Recent Company Layoffs
(sourced from Layoffs.FYI):
PayPal
- Layoff Date: 1/30/2024
- # Laid off: 2,500
- % of workforce: 9%
If you were affected by layoffs at PayPal, you can access a free month of Ramped Premium to help support you in your job search.
Block
- Layoff Date: 1/30/2024
- # Laid off: 1,000
- % of workforce: 10%
If you were affected by layoffs at Block, you can access a free month of Ramped Premium to help support you in your job search.
Kiwi.com
- Layoff Date: 1/30/2024
- # Laid off: 216
- % of workforce: 18%
If you were affected by layoffs at Kiwi.com, you can access a free month of Ramped Premium to help support you in your job search.
Aurora Solar
- Layoff Date: 1/30/2024
- # Laid off: 111
- % of workforce: 20%
If you were affected by layoffs at Aurora Solar, you can access a free month of Ramped Premium to help support you in your job search.
iRobot
- Layoff Date: 1/29/2024
- # Laid off: 350
- % of workforce: 31%
If you were affected by layoffs at iRobot, you can access a free month of Ramped Premium to help support you in your job search.
Salesforce
- Layoff Date: 1/26/2024
- # Laid off: 700
- % of workforce: 1%
If you were affected by layoffs at Salesforce, you can access a free month of Ramped Premium to help support you in your job search.
Veho
- Layoff Date: 1/25/2024
- # Laid off: 65
- % of workforce: 19%
If you were affected by layoffs at Veho, you can access a free month of Ramped Premium to help support you in your job search.
SAP
- Layoff Date: 1/23/2024
- # Laid off: 8,000
- % of workforce: 7%
If you were affected by layoffs at SAP, you can access a free month of Ramped Premium to help support you in your job search.
eBay
- Layoff Date: 1/23/2024
- # Laid off: 1,000
- % of workforce: 9%
If you were affected by layoffs at eBay, you can access a free month of Ramped Premium to help support you in your job search.
Vroom
- Layoff Date: 1/23/2024
- # Laid off: 800
- % of workforce: 90%
If you were affected by layoffs at Vroom, you can access a free month of Ramped Premium to help support you in your job search.
Brex
- Layoff Date: 1/23/2024
- # Laid off: 282
- % of workforce: 20%
If you were affected by layoffs at Brex, you can access a free month of Ramped Premium to help support you in your job search.
Riot Games
- Layoff Date: 1/22/2024
- # Laid off: 530
- % of workforce: 11%
If you were affected by layoffs at Riot, you can access a free month of Ramped Premium to help support you in your job search.
Solar Edge
- Layoff Date: 1/21/2024
- # Laid off: 900
- % of workforce: 16%
If you were affected by layoffs at Solar Edge, you can access a free month of Ramped Premium to help support you in your job search.
Wayfair
- Layoff Date: 1/19/2024
- # Laid off: 1,650
- % of workforce: 13%
If you were affected by layoffs at Wayfair, you can access a free month of Ramped Premium to help support you in your job search.
Discord
- Layoff Date: 1/11/2024
- # Laid off: 170
- % of workforce: 17%
If you were affected by layoffs at Discord, you can access a free month of Ramped Premium to help support you in your job search.
- Layoff Date: 1/10/2024
- # Laid off: 1,000
- % of workforce: N/A
If you were affected by layoffs at Google, you can access a free month of Ramped Premium to help support you in your job search.
Twitch
- Layoff Date: 1/9/2024
- # Laid off: 500
- % of workforce: 35%
If you were affected by layoffs at Twitch, you can access a free month of Ramped Premium to help support you in your job search.
Unity
- Layoff Date: 1/8/2024
- # Laid off: 1,800
- % of workforce: 25%
If you were affected by layoffs at Unity, you can access a free month of Ramped Premium to help support you in your job search.
Things You Need While Searching for a Job
Once you are armed with the knowledge about what kind of job will make you happy, there are core things to get lined up for a job search. Let's look at a few.
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What to Look for in a Job
Fun fact, most people will have about 12 different jobs in their working lifetime. This goes to show that finding a job that you love enough to hang onto takes some forethought and possibly a bit of trial and error. Just the same, you can make some plans in advance, helping you land in a position that leaves you perfectly content. Check out a few things to look for when looking for that perfect job.
