If You Are Laid Off, Are You Ready?
Good work matters. Being prepared matters too.
Hi,
There is a difficult question most of us would rather avoid: If I were laid off, how would I manage?
We tell ourselves: I do good work. My manager trusts me. I have strong relationships with my team and senior leaders. We may even have shared dinners and taken photos with important people in the company.
And when we read about layoffs somewhere else, we think: That will not happen to me.
After years of working inside companies, one lesson has stayed with me. Doing good work matters. Building strong relationships matters too. But neither guarantees that your job will always be there.
Companies change direction. Teams are reorganized. Costs are cut. Sometimes jobs disappear, even when the people doing them have performed well.
AI is changing the picture too. Tools like ChatGPT, Claude, and Gemini can now handle some tasks that people used to do, while changing many others. I cannot tell you exactly which jobs will disappear. But I do not think we should assume work will stay the same.
This is not a reason to live in fear. It is a reason to prepare.
We cannot control every decision our employer makes. But we can decide how prepared we want to be.
Four steps you can take now
- Build a second source of income. Start small. Think about one skill you could use outside your job and take the first step.
- Spend less than you earn. Give yourself room to save, even when your income grows.
- Be careful with loans. Before taking on more monthly payments, ask whether you could manage them if your income stopped for a while.
- Build an emergency fund. Work toward at least six months of essential expenses. If that feels difficult, begin with one month and build from there. Keep the money easy to access.
One question to think about
Look at your expenses, loans, savings, and the skills that could earn you income beyond your salary. Which one needs your attention this week?
We do not choose every change that comes our way. But we can choose what we do before it arrives.
Thank you,
Ahmad