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Whether or not you expect it, a layoff is traumatizing. Through no fault of your own, one minute you’re employed—and the next minute you’re signing up for unemployment. Besides the emotional devastation, there’s the financial hit you’re about to take.
How do you deal with a layoff? Here are 10 things you can do to ensure your financial house is in order and you can move forward if you are laid off.
1) Request a Layoff Letter and Recommendation
There’s a difference between being fired and being laid off. A reduction in the workforce for whatever reason is outside an employee’s control. That’s an important distinction when you go to an interview for another job. You'll want a letter from the HR department clearly stating the circumstances to your layoff.
Anne Johnson was a commercial property and casualty insurance agent for nine years. She was also licensed in health and life insurance. She went on to own an advertising agency, where she worked with businesses. She has been writing about personal finance for 10 years.
