Statistically, 40% of Americans will be laid off at least once during their careers.
From LinkedIn statuses to conversations at networking events, layoffs are a topic on repeat. Across all industries and affecting people with diverse skills, millions are navigating this challenging time. I’ve been there myself, and I know it’s anything but easy. It can feel overwhelming, but with the right approach, you can turn this into a productive season of self-growth and career advancement.
In 2024, layoffs are particularly high in tech, media, and financial services, with more than 40,000 layoffs in tech alone, often tied to shifting economic priorities and budget adjustments. Whatever brought you here, know you’re not alone.
Below are some essential steps to help you navigate a layoff. These have worked for me and others I’ve supported, and I hope they do the same for you.
1. Process Your Emotions and Reflect
The initial feelings following a layoff—shock, frustration, or sadness—are natural. Give yourself space to process them. Talk to supportive friends or family members, journal your feelings, or engage in activities that relieve stress, such as exercise or meditation. After you’ve had time to reflect, try to view the experience as an opportunity for growth and to reassess your career path. Even if you're not a feelings type of person, or they don't hit you immediately, it will help to get your frustrations out. There's no shame in layoffs, they happen, so make sure you're supporting yourself and allowing people in. Plus, who knows, the person you might share your situation with, may be the person the connection you need to your next job. So the sooner you share, could be the better.
2. Clarify Your Finances
Understanding your financial situation early on will relieve stress and help you plan your next steps. Calculate your essential monthly expenses to see how long your current savings can last. If you received a severance package, consider consulting a financial advisor to help budget for the period ahead. Look into unemployment benefits if applicable, as they can provide temporary financial support while you search for a new position.
3. Update Your Resume and LinkedIn Profile
Once you feel ready, begin updating your resume and LinkedIn profile. Emphasize recent achievements and focus on skills that will be relevant to your next career move. Add metrics where possible, like "increased sales by 20%" or "implemented a new process, reducing costs by 15%." Leverage LinkedIn’s visibility settings to signal you’re open to new opportunities, and ask former colleagues or supervisors for recommendations that highlight your strengths. Join networking or subject matter groups on LinkedIn relevant to your field, and engage with people and content. For more LinkedIn optimization strategies check out my recent blog on Personal Branding and Standing Out on LinkedIn.
4. Network Actively
Networking is one of the most powerful tools in job searching. Reach out to former colleagues, mentors, and industry contacts to let them know you’re in the market for new opportunities. Don’t hesitate to ask for informational interviews with contacts who work in companies or roles you’re interested in. Joining professional groups on LinkedIn, attending virtual meetups, and reconnecting with people in your industry can also lead to valuable connections. Find professional relevant organizations and get involved. The best place to start is LinkedIn; another source is searching your industry or skillset in tools like Eventbrite for your local area. The more people know your story, the greater your chances of finding your next role.
5. Upskill and Continue Learning
This is a great time to strengthen or learn new skills that can set you apart in the job market. Consider taking free or low-cost online courses related to your field or attend webinars and workshops that help broaden your skill set. Look for certifications that may enhance your resume or update skills that are currently in high demand, such as data analysis, project management, or digital marketing. For other marketers, HubSpot Academy, Hootsuite Academy, American Marketing Association, LinkedIn, and other programs offer great options to continue advancing your skills.
6. Consider Freelance or Temporary Work
If you need immediate income or simply want to stay professionally active, consider freelancing, consulting, or temporary work. Not only can these gigs bridge financial gaps, but they can also build your portfolio, introduce you to new industries, and expand your network. Sites like Upwork, Fiverr, and LinkedIn’s freelance marketplace can help you connect with clients looking for short-term talent. Who knows, this may become a new career passion for you, or at minimum a great additional income source.
7. Plan for Your Next Steps
Once you’ve stabilized and regained focus, begin setting clear goals for your job search. Decide which types of roles you’re interested in, the companies you’d like to work for, and any specific values or benefits you seek in your next employer. Use this time to apply strategically and tailor each application to the position. Ensure your resume is ATS compatible as it is a primary filtering system companies are using now to save time on resume reviews. If not ATS, research to see if you can find what system or practices your target organization uses, to improve your chances of getting your resume in front of an actual person.
8. Prioritize Mental and Physical Health
Finally, don’t neglect your well-being. I know it's hard not to focus 100% on finding your next opportunity, but make sure you do take time to refuel yourself during this difficult season. Maintain a healthy routine by getting adequate sleep, eating balanced meals, and finding time for physical activity. Staying mentally and physically well will keep you resilient and motivated, both during your job search and beyond.
Remember, while a layoff can feel like a setback, it often opens doors to new opportunities that align more closely with your personal and career aspirations. Take this time to recalibrate, grow, and create a positive path forward. Regardless of what your specific transition season looks like, know that you're not alone. Keep your head up—something great is on the horizon.
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