27 June 2008

4 Mistakes to Avoid If You're Downsized

They may be called downsizing, layoffs, buyouts, or reductions in force, but if you're on the receiving end of one, they all mean the same thing – you need to find a new job.

The Wall Street Journal's Career Journal offers the following pointers to workers who find themselves in this situation:

• Don't take it personally. Being let go by an employer doesn't have the same stigma today that it did a generation ago. Employers understand that most Americans now change jobs half a dozen times or more over the course of their careers. They also understand that the decision to let people go is usually about economics, not employee performance.
  
  
• Don't sign your severance package until you've read it. Take a day or two to go over your severance documents before you sign them. Don't be afraid to ask for more if you think the package is inadequate. The more seniority you have at your company and the smaller the number of people being laid off, the more negotiating room you have.
  
  
• Don't job-hunt from the company you're leaving. Many employers will offer downsized staff the use of an office for their job hunt. It's wiser to make a clean break with your former employer and conduct your job hunt from your home or an outplacement office instead.
  
  
• Don't start an active job search before you're ready to interview. It's natural to react to news of a layoff by springing into an active job search. That's probably not your best option, though. Give yourself time to review and update your resume and to think about what you want out of your next job. Don't call on personal contacts until you're completely ready to interview. After all, these contacts are some of your most valuable sources for information on employment prospects. You don't want to embarrass or disappoint them by bombing an interview they helped you get.

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