Three thoughts on layoffs

21 Aug 2023 #career

I bet you have heard the news about layoffs in the tech industry. They’re so common these days that there’s even a page out there to report and track them. Some days ago, I got a message from a close friend who was laid off. Personally, I’ve been there. I know how it feels. These are some of the lessons I’ve learned on layoffs I shared with her.

1. Job security is an illusion

I don’t know who makes us believe there’s such a thing as “job security.” That’s an illusion.

In my early days at college, I thought the safest route was being an employee. I was so wrong! I only needed being laid off once to change my mind.

We could lose our jobs anytime for reasons we don’t (and can’t) control: a pandemic, a company going bankrupt, or a recession.

The real question is when it will happen, not if it will ever happen to us. We’re better off preparing for that.

2. Have an emergency fund

I can’t stress this enough. This one of the things I wished I had learned earlier: have an emergency fund.

An emergency fund is enough savings to cover our essential expenses for some time. The longer, the better. That would give us enough breathing room until we land in another place.

An emergency fund could be the difference between being picky about the next job or accepting anything to pay the bills.

3. Always be ready

Let’s always have our CVs ready and keep in touch with our colleagues. Let’s not wait for a layoff to have an online presence. That would be too late.

Let’s always be ready for an interview. Interviewing is broken, I know! But let’s always be ready to leave.

Voilà! Those are my thoughts about layoffs. I learned that after losing a job, there’s always a positive change. That takes us out of our comfort zone. “Pastures are always greener on the other side,” I guess.

For more career lessons, read these five lessons I learned in my first five years as a software engineer and ten lessons learned after one year of remote work.

Happy coding!