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Rising Star
Worried about potential recession and layoffs...
Any word on layoffs at JPM?
Anyone worried about layoffs?
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What guille vega is up to these days?
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Oh god yeah. Everyone has been laid off. Just spend the time now putting your website together and getting on strategy recruiters radar. Alpert search, Tangerine, etc. It’s good practice for anybody at any level and you’ll feel confident for whatever happens.
First thing you must do when getting laid off: go to the bar with coworkers + those who also got laid off. The former will most definitely cover the drinks + provide support / comfort / guidance / laughs. Never just go straight home
So true
Everyone in this industry has been laid off at some point and i promise you your next opp will be better.
Having said tjat, be practical, have a savings account and always plan for the worst
Freelance until 2007, then full time pretty much since then with one short self imposed freelance break. The downside is I haven’t taken off enough time.
I have not been laid off. However, the stress of potential lay off comes and goes. Whenever I have a week or more of bench time, loss of accounts, mergers, etc. Being young and single you should do what you can to set money aside for a rainy day.
The easiest way is to set a percentage of your paycheck and allot it to your savings. You can do this through your finance department. You won’t ever see it and after a while you won’t notice it. Over time you will start to have something. With each promotion, raise, job change you should increase this percentage accordingly.
The money you set aside can be used for so many life milestones: mortgage, paying off student loans, weathering a layoff, etc.
As a junior you’re somewhat safer since you’ll do the grunt work that keeps the lights on and not take up a huge amount of salary for it.
Same thing - you’ll do what keeps the wheels turning without demanding a huge salary for it. Look at how agencies are trending more junior - it’s a cost/benefit thing.
Laid off 2 years ago. Keep you head up, it happens to everybody. Don’t think it will impact your career... it doesn’t. Have some savings, rethink your priorities, it will help you find the right place and in the end, you will be better of.
I definitely wouldn't say everyone has been laid off!
In a lot of situations, if you're good enough they'll place you on a different project or client rather than just letting you go because they've lost a client (for example) or need to downsize. Always be above average and they won't get the chance.
I understand why you're defensive but you are missing the more critical point that your delivery sucked as evidenced by the reactions you get. Don't worry we all get that way and have experienced this that's why communicating is hard. Don't know what to tell you. Up to you what you want to do with the feedback. All the best regardless.
Don’t ever tell someone you think they’ll be ok for whatever reason, level, etc..That is a curse, seen it many times. You really don’t know unless you made the actual decision. Just keep it to good advice to calm nerves and stay motivated.
I've been laid off 3 times. Once in a previous industry. Twice in advertising. Both times due to loss of the account on which I worked. Once as an AE and once as a director. There is no such thing as a level being safe. Advertising is commissioned work and staffing is based on signed contracts and budgets. I know because I manage those.
Start looking for a new job right away. It's incredibly rare and unique to know this far out that you're getting laid off. Usually you're told the morning you come in after which security stands by your desk while you gather your belongings and then escort you out. Good luck! 5-10 years from now this will be a blip in your career.
Been laid off twice. Always, always put some money away in case of emergency, even $50 a month is better than nothing.
Save,save, save! It makes it way less stressful if/when that situation rolls your way
Save your money as much as possible, keep your portfolio up to date, and always be networking. Don’t just network when you’re looking for a new job
I was laid off from my first ever job out of college right before Christmas. My boss told me the day before my last day. Took a paid internship to survive (barely) and end back up at that first agency. Rough start for sure, but I got a lot of experience fast. So... silver lining I guess?
Also, not at that original agency anymore 🙅🏻♂️ Much happier at my current spot.
Don’t be a snob and file for unemployment; it’s your money. Research health insurance options. Have your important stuff periodically backed up.
*as a junior and a worrier about money.
Got laid off early last year - a client did not wish to continue the contract. The agency was kind in helping us get work elsewhere within the network. However the place we got transferred to was also undergoing a creative review. The result was a portion of work lost within this agency and now I am looking elsewhere...