Now What, Part II

We’ve discussed before of what to do when you’re facing a layoff/Reduction In Force (RIF). It would appear that “the market” has decided the latest vogue is to do straight firing, based on “performance”. I put those in scare quotes because there is no small amount of evidence that some folks being let go for “performance” were under the impression– with receipts — that they were not under any form of performance improvement plan and/or had stellar reviews. Even if you were, being let go with no warning and no health insurance sucks. So let’s do this:

1. Take a deep breath. Panic will not serve you now; and the energy you used to put into your job you now need to put into YOU. If you need to take a moment to scream into a pillow or sob in the shower or make a little felt voodoo doll, well, do you. Don’t take too long, because there’s more to do.
2. Are you covered for health insurance? E.g., do you have a spouse and can they cover you on theirs? If you’re under 26 you may be able to be covered by your parents. Being let go (for whatever reason) is a “qualifying event”. If not, check out your state’s health insurance exchange. (If that doesn’t work, type your state name and “health insurance” into your browser… because that previous link is a federal government link and some of the sites are being “updated” lately).
3. Different states have different rules for unemployment – in some there’s a waiting period if you’ve been “fired”, in others it “depends”. Put your state name into your browser along with “unemployment” and follow the links on how to file and what is needed. Do your best to NOT be emotionally compromised during this, you’re going to need patience. I find it useful to pretend it’s not for me, but for my kid or my mom. How would I advocate for them? Then I do that.
4. Review whatever paperwork they gave you as part of your “firing”. What happens with your 401k, your pension, etc. … when does your last check drop – make a note of that too.
5. If your insurance covers you “through the month” or suchlike, get an emergency appointment with your doc (if you can) and refill all your prescriptions, etc. Insurance goes by date of care.
6. Take a look at your budget at home and, if you don’t have one, now’s the time. You need a hard list of the things you cannot NOT pay (like rent, food, utilities) and things you can cut out if you need to (like subscription services, dining out, etc.). Will it suck? Yes. But let’s get with Maslow on this one: needs first. Then figure out the gaps.
7. Time for some math: you have whatever’s in your account, plus possibly an inbound “last check”. That “account” balance may include your emergency fund (this, friend, is an emergency) or you may not have one. Take that into account, along with how long before you can get unemployment, and compare that to your budget – are you going to be in the hole, and if so how much? (Then start trying to figure out what you can do to bridge the hole: how fast can you get a new job (any job), where can you pull cash from to bridge the gap, etc.). You can also negotiate with companies as to payment plans and hardship stays.
8. Brush up that resume, your LinkedIn, etc. Network. Have informational “coffees” with people. Scour the job boards (e.g. Indeed).
9. Have your talking points ready as to why you were let go. If you have references from coworkers, previous managers, etc., have those at the ready. Those employers know the score and they watch the news too: this is not necessarily a scarlet letter.
10. This too shall pass. It’s going to absolutely suck, but you’re resilient, and you can do this.