Have you ever been laid off? How'd it go down? How'd you handle it?

I think I should be safe in an economic downturn, but a junior and worrier about money so I want to prep as best as I can.

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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.

likesmart

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

likehelpful

So true

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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

likeupliftingsmart

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.

likesmart

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.

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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.

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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.

likeuplifting

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.

likesmart

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.

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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.

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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.

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Been laid off twice. Always, always put some money away in case of emergency, even $50 a month is better than nothing.

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Save,save, save! It makes it way less stressful if/when that situation rolls your way

helpful

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

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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?

uplifting

Also, not at that original agency anymore 🙅🏻‍♂️ Much happier at my current spot.

uplifting

Don’t be a snob and file for unemployment; it’s your money. Research health insurance options. Have your important stuff periodically backed up.

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*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...

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Were employees laid off from BASES?

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I wish Ad salaries were like NBA salaries. Each year you get a ridiculous raise no matter how shitty you perform. If you are good you get bird rights and no layoff clauses. And retire at 35.

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any telltale signs of layoffs in tiger?

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How are my NY peeps handling the holiday layoffs? H really knows how to stick it to🎅...

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So I was laid off back in mid April after 5 short months with a job that I absolutely loved. I’m applying to mid-senior level jobs and being told that I’m overqualified and should apply for VP level jobs. When I apply to VP level jobs I’m told those are hired internally. So, do I just lie on the resume to dumb it down?! Also- should I list the layoff in the resume and then in the ATS they have so it doesn’t look like I wasn’t just quitting after 5 months? I have it in my cover letter but is it

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The company has this rule where we have to check customers' IDs if they are buying anything age-restricted (alcohol, etc.) I hate it because customers get super mad at me and one of them told me "if you think I'm too young then you're stupid and don't deserve to have a job." It's not my policy guys, it's the company. I tell people I would get fired if I didn't do this and they never believe me

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400 marketers laid off at Uber today. The job market is about to get very competitive

likehelpful
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Any more lay offs?

I am interviewing for a role, during these crisis times, is it a good time to shift jobs? Is Autodesk doing layoffs, performance based cuts during these difficult times, considering Google, Microsoft, Infosys doing layoffs, hiring freeze, etc..

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Out of curiosity, do specialists have far greater job security during downturns? Just realized that most of the people I hear were let go are associates in M&A, cap mkts, or other non-specialist practices.

likesmarthelpful

Some context: agency let go about 15% of the company a month ago. I was warned by my dept lead more layoffs could happen if we don’t win new business soon. I’m 35w pregnant.

What scenario (if any) is most likely:
- That I’m let go before my mat leave begins
- I’m let go during mat leave
- I’m let go immediately after returning from mat leave

Seems like potential PR nightmare for them, but I can’t ignore the fact that I was given a heads up that layoffs could happen.

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