380: Surviving a Layoff: What HR Wants You to Know?

BiggerPockets Money Podcast

The 2023 tech layoffs have already begun to make the 2022 tech layoffs look like small-scale firings. What started as a few large companies firing unneeded hires quickly ramped up to an industry-wide cost-cutting exercise as hundreds of thousands of employees were forced to walk away from their stable salaries, free lunches, and healthcare. With tech companies being some of the most generous in terms of compensation, it makes sense that these would be the first businesses to force mass layoffs. But what about those of us who aren’t in tech? Or those that are in tech but still have a job?

Tara Pramme joins us as a human resource expert, explaining exactly why layoffs are happening now, who will be most affected, what to do if you’re let go, and getting back into the job market. Tara knows how hard layoffs can be, especially for those with families to feed or work visas that only last as long as they’re employed. She knows precisely which document means what, what you should know before signing layoff contracts, what you can expect as severance, and how to keep yourself mentally stable during this challenging period.

With large-scale layoffs looking to last for at least the near future, Tara wants to ensure you’re ready for whatever happens next. You’ll also hear about the common warning signs that a layoff is about to happen, why you should NEVER post negatively online after a firing, and what to do on your last day at work.

We hope a layoff never happens to you, but if it does, this episode will leave you prepared to bounce back stronger than ever!

In This Episode We Cover

The 2023 tech layoffs explained and why so many companies are letting employees go

Common warning signs that a layoff is heading your way

Who is first to be fired when a layoff is announced, and how to tell if your company is planning one

Severance packages, non-disparagement agreements, and how to avoid your final paycheck getting taken away

Healthcare, COBRA, and how to make sure you’re insured when you lose your job

Getting back into the job market and why it’s never too early to update your resume

The “why” behind layoffs and how companies choose to cut staff

And So Much More!

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Click here to check the full show notes: https://www.biggerpockets.com/blog/money-380

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