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With that said, you are still without a job after the layoff happens. Your actions immediately after learning about your company’s plans have a definitive effect on the next phase of your career ...
Options for Your 401(k) After a Layoff. You may wonder what you can do with your 401(k) after getting laid off by your employer. Although there is no “one size fits all” rule, there are a few ...
The Worker Adjustment and Retraining Notification Act of 1988 (the "WARN Act") is a U.S. labor law that protects employees, their families, and communities by requiring most employers with 100 or more employees to provide notification 60 calendar days in advance of planned closings and mass layoffs of employees. [1]
Tom Roberts was laid off in April 2009, six weeks after he told his supervisor that he needed to have brain surgery. Paying the bills with a now-exhausted balance of vacation and sick days ...
After a year, that's $8,580 of earnings (though remember, you'll need to set aside a portion of that income for taxes). Having emergency savings to tap during a layoff is crucial.
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
The recent announcement of 27,000 layoffs at HP can send a chill through any corporate employee. The reality is that anyone can end up out of work from an unexpected corporate restructuring.
After an employee withstands a layoff, the effects can trickle into future employment and attitudes. Layoffs in the workplace often leave the former employee less inclined to trust future employers which can lead to behavioral conflicts among co-workers and management .