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Money Rehab with Nicole Lapin

6 Signs Your Company Is Headed Toward Layoffs

Money Rehab with Nicole Lapin

Money News Network

Education, Self-improvement, Business

4.41.4K Ratings

🗓️ 23 March 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

Imagining a scenario in which you get laid off is not a fun thought exercise. We all want to have job security, and it’s stressful to think that we might not. But the worst-case scenario is that you get laid off and it takes you completely by surprise. A better scenario (although still a sucky one), is to get laid off, but be prepared to chase your next opportunity. Today, Nicole shares six signs that your company might be announcing layoffs.

Transcript

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0:00.0

I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

0:07.0

It's time for some money rehab.

0:16.1

Throughout the course of the last few years, and especially recently, we have heard many,

0:20.8

many stories about people getting laid off.

0:23.8

In the face of economic uncertainty, countless companies have decided to furlough or lay

0:28.4

off their employees to offset financial losses.

0:32.7

Massive companies that you might think would be less affected by the overall economy,

0:37.8

companies that feel too big to fail, like Meta, Google, Salesforce, Spotify, Microsoft,

0:43.5

Disney, Goldman Sachs, have all laid off employees.

0:47.3

And sadly, I don't think we're out of the woods just yet.

0:50.4

So I wanted to put together an episode on how best to prepare.

0:54.0

And I realized this was such an important resource after talking to some listeners who

0:58.1

were totally blindsided by company-wide layoffs.

1:01.8

Here's one.

1:02.8

Hey, Nicole, my name is Abby, and I live in Providence.

1:08.3

Before the pandemic, I was working for a digital media company, and over the course of the

1:12.6

past year, about 100 employees were laid off.

1:15.9

And I was one of them.

1:17.1

I know that we can't predict things like pandemics, but can we predict layoffs?

1:22.8

Are they somewhat predictable?

1:24.6

Should I have even seen it coming?

1:26.1

I don't ever want to be in this situation ever again, so I want to make sure I have my

...

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