A sudden job loss is considered a major life event. Yes, it is. So, don’t expect a walk in the park. However, there are things you can do and keep in mind to help you get through this tough time.
First, it’s important to consider HOW you lost your job because it can make a significant difference.
A) I was terminated for whatever reason.
While this may seem daunting, it’s not the end of the world. Especially considering your circumstances. If you were fired for theft, then you are probably going to have a difficult time finding a job.
- Apply for unemployment. While you may not qualify, you should always still give it a try.
- Check your savings and budget. Eliminate bills and whatever expenses you can. Make a plan.
- Start job hunting aggressively. It’s easy to become depressed but regardless of the circumstances you can always start anew and make life better. While at home, create your best resume and prepare what you will be saying to your interviewer in regards to your termination. There are tons of tools online for you to use to prepare mentally.
B) My company relocated to another country.
This obviously is out of your control. Your company may be simply moving out of the country because their deal on taxes ended. You going to move with them? No way, so what’s next?
- First things first, start living frugally. Check your budget, and if you don’t have one MAKE one.
- Look into unemployment in your state. How long can you collect? How much would you receive and how often? Check their FAQ and if you have any further questions give them a ring.
- Look into ANY other government programs that MAY apply to you because of the circumstances. If your company relocated out of the country there are good chances you qualify for a government paid for program to get you a 2-year degree to place you in the workforce (commonly known as TAA.) Check out this link: http://www.doleta.gov/tradeact/
- If you plan to look for another job immediately then often your company will work with you for time off for interviews.
- Don’t let the depression set in. Often in these situations, you may experience tons of emotion… from depression to anger. Remember, it’s not your fault that the company is moving and has nothing to do with YOUR ability.
C) My company relocated to another state/city.
Not all is lost here, and often the company gives you a huge heads up so you can prepare. What steps should you take?
- Decide if you should move with the company. This may be a tough choice if you are well invested where you are or have family, so really look at the whole picture.
- If moving is your best best, often the company will PAY for your relocation. Contact your HR Manager or whoever handles this to find out what is paid for, and how it works. Then start planning and packing!
- If staying behind is the best for you and your family then start looking at your new options. Look to see if government programs will apply to you. You may consider going back to school and will probably be approved for unemployment. Searching for another job while still working for the company is another great option, and often the company will allow you time off for interviews due to the circumstance.
- Check your budget. Start saving and living frugally.
D) My company/office is closing down.
There are so many different reasons this can happen. In a franchise, the company may decide to close down only a select FEW offices… or maybe a company just goes bankrupt and closes down completely. But you do have options and things you can do.
- Often when this happens your company will tell you up front your options and depending on the circumstances usually you have ample time to prepare for this job loss (months.)
- Look at your budget and prepare!
- Look into government programs to see if any apply to you for this situation. Tons of government money is just sitting waiting to be used, don’t miss your opportunity to use what is rightfully yours!
- Apply for unemployment when the company closes. You will almost certainly be approved.
- If you plan to move to another job then start hunting right away. Often your current company will work with you for interview times so don’t be shy to let them know.
- Don’t get yourself in a depressed rut over this and keep moving forward! A shocking as it may seem, this kind of thing happens unfortunately. You must move forward!
Losing a job is a very tough time, but you will make it through! My company relocated out of the country almost a year ago and I felt it would be nice to share some of the feeling and information I gathered. Often, the companies who are closing or moving do have compassion and will set up a lot of things for you and your colleagues such as job fairs and resume classes at no cost to you.
If you have any further questions or need advice in concern to this, please feel free to drop a comment below. Most importantly, good luck to you in the future!