Happy New Year! You're Fired.

A few days into 2024, I learned that a person close to me had been laid off. Since then I have received numerous calls from people in a similar situation. Historically, layoffs have been attributed to economic downturns and industries that are losing favor. That may no longer be the case. Even Big Tech companies - the 2023 stock market darlings - have been in the news for cutbacks. A quick search on Bing revealed these insights on 2024 tech job cuts to date.

"According to a recent article by MSN, several tech firms including Amazon and Google have started the year by laying off workers as they look to cut costs and inefficiencies in their businesses. The article also mentions that Google layoffs hit its hardware division, which included Fitbit, the activity tracker company Google bought in 2019 1 2 .

In addition, TechCrunch has compiled a comprehensive list of tech layoffs conducted to date this year. As of January 11, 2024, the running total of layoffs for 2024 based on full months to date is 224,503 . The list includes layoffs at major tech companies such as Google, Amazon, and Microsoft, as well as small fintech startups and apps."

No matter the situation, losing a job can be a challenging experience. It's important to take proactive steps to navigate through this period. Here are some top steps to consider in the first weeks after losing a job:

1. Understand Your Finances: Assess your financial situation. Review your savings, calculate your monthly expenses, and create a budget to manage your finances during the transition period.
2. Apply for Unemployment Benefits: If eligible, promptly apply for unemployment benefits. Familiarize yourself with the requirements and processes in your location.
3. Review Severance Package: If you received a severance package, carefully review its terms and conditions. Understand the duration of the package, any restrictions, and implications for future employment.
4. Update Your Resume and LinkedIn Profile: Update your resume and LinkedIn profile with your most recent experiences and accomplishments. Make sure your online presence reflects your professional skills and expertise.
5. Network and Seek Support: Reach out to your professional network for support and advice. Attend networking events, connect with former colleagues, and consider joining industry groups or associations.
6. Evaluate Your Career Goals: Take this time to reflect on your career goals, values, and aspirations. Consider whether this is an opportunity to explore new career paths or industries.
7. Set Realistic Job Search Goals: Establish realistic and achievable goals for your job search. Define the types of roles you're interested in and create a plan to pursue them.
8. Enhance Your Skills: Identify any skills gaps and use the time to enhance your skill set. Consider taking online courses, attending workshops, or pursuing certifications to make yourself more marketable.
9. Research Healthcare Options: If your previous job provided health insurance, explore options for continued coverage. This may include purchasing individual coverage or exploring government healthcare programs.
10. Stay Positive and Maintain Routine: It's normal to experience a range of emotions after losing a job. Focus on staying positive, maintaining a routine, and taking care of your physical and mental well-being.
11. Seek Professional Guidance: Consider seeking guidance from career counselors, coaches, or mentors. They can provide valuable insights and help you navigate your career transition.
12. Consider Freelancing or Consulting: If applicable, explore opportunities for freelancing or consulting. This can provide a source of income while you search for a permanent position.
13. Attend Networking Events and Webinars: Participate in networking events, webinars, and industry conferences. These forums can provide valuable connections and keep you informed about industry trends.

Remember that job loss is a temporary setback, and taking proactive steps can help you transition into the next phase of your career more smoothly. Stay resilient, stay focused on your goals, and use this time to invest in your professional development.