Lay Offs – Part 1
Have you been laid off?
I recently learned the story of a young woman who got laid off. Several weeks later, her husband did too. Both held good jobs in the tech industry, and they aren’t the only ones. Accenture, Google, Amazon, Microsoft, Meta, and others have announced cuts in their workforce. 700 tech companies have laid off 200,000 employees so far this year. The tech industry grew rapidly during Covid to meet needs created for work, shopping, and socializing. Now, big companies are correcting for over-hiring and underperformance, while also preparing for the rise of AI. Changes are happening throughout the industry, but not all news is bleak. Some startups are recruiting software developers, data scientists, and engineers. So, be optimistic. Despite your fear, stress, and disappointment don’t despair or panic. The Harvard Business Review recommends asking your employer these questions:
• When will I receive my last paycheck? How about severance?
• Do I get paid for unused vacation time and sick days?
• How long will I have healthcare coverage?
• Will you provide a reference for me?
• When can I get copies of my performance reviews?
• What happens to my 401(k), 403(b), or retirement plan?
If you’re married, be upfront with your spouse. Pray together for wisdom and direction. Be mindful of the many things for which you can be grateful and see how God can work this together for your good. In another program, I’ll give tips on how you can protect your finances in a layoff.
I want you to join us at Crown’s 2023 Reunion. You’ll love it! We plan to gather October 12-15 at Ridgecrest Conference Center near beautiful Asheville, North Carolina. For more details and registration, go to crown.org/reunion.