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All you can really do is hope for the best, but prepare for the worst. Have a good safety net in case layoffs happen, because they do sometimes. This is not an industry for safety and security, sadly. I just try to consciously and mentally prepare in case something happens, and always be ready. Keep that résumé updated.
Yeah I think I’m always mentally prepared for the worst but I think I need to get my paperwork in order.
This industry is tough and it never feels like it's stable even if you are at a stable company. Keep your skills sharp and tap into your network if it does happen. A referral will take you far than cold applying. I sometimes do side gigs so I can fall back on something and it also helps with meeting people that can use what you are giving.
I try to be conscious about what opportunities I take at work and whether they’d make my CV look better in the long run as a contingency.
At this point, there are very few industries left where that uncertainty doesn't apply. Things are bad bad right now. I keep my resume updated and I'm frequently browsing jobs boards to get a feel for what is still out there and what skills I should be focusing on developing that might help me if I get laid off.
Yeah I’m on job boards quite often just to see what’s out there, have been tempted to change my skill set to a little to make myself even a little more hireable.
Honestly i think I'd be applying and maybe even trying to leave the industry. Entertainment is going to go through so many changes as AI advances, I would try to go into something a little more stable like healthcare maybe. I'm considering a move myself
True but I find it hard to imagine myself doing anything else. I’m not married to this industry or anything but it’s hard to see outside of this lense.
I just cross my fingers and hope for the best. There was a lot of layoff talk around here last year and it stressed me to my breaking point. I eventually just resigned myself to the idea that if it happens, it happens, and there's nothing I can do to change it. I keep my resume updated and try to stay active with my network so if it does come to pass, I've at least got something of a headstart on the job hunting front.
Yeah part of it is just accepting it might happen, it’s scary but there’s not a lot you can do about it.
I think the best we can do is to organise in a Union, most of them they have legal advice and we can do more fighting together than separate. An union won a pay rise in the basque country when the company tried to layoffs 10 employees.
Better unions are ultimately the way, it can be really hard to get them started without the right support though.
Don’t wait until you’re affected by a layoff. Start looking for another job now. If the salary offer is good and fits your current lifestyle, then you can consider whether to resign or take the risk of staying. You might be surprised by the 30-day notice period, and it’s tough to find a job on such short notice.
Yeah I’ve been at my job for a year now and I’m starting to look at what might be beyond, could coincide well together.
My summarised advice is that you manage the stress by preparing for the worst.
Use the time spent understandably being concerned and update your resume and LinkedIn profile. (Should you have one.)
The entertainment and tech sectors have been through a tough time, and as someone who has worked in my field for more than 20 years, I can only advise that you do not rely on hope alone to get through this round.
Finding a like for like role can be difficult, so identify skills that can cross over to different but related fields.
Understand that even if you have given the best years of your active career to a job/ role - businesses will quickly make the cuts needed, so if you do happen to survive this round, there may be another coming. (And potentially at the worst time of year like the holidays...) May as well look out for yourself during a time like this.
Register with recruitment sites, and if your skill and experience allow - look up working as an advisor for groups like Tegus, Guidepoint and GLG. The work is not consistent but can supplement your income with consultant rates. You'd be surprised how much knowledge you have which can be used without spilling company details/ private information, and get paid hourly in doing so.
I wish you the best of luck!
Yeah if I have to I’ll move out of entertainment, I’d rather not if possible but I’d also rather keep working than be unemployed. I’ve got a lot of transferable skills after this job which is great I think I just need to properly explore what options I have.
This is stressful! Just got to keep your headup and monitor the situation. If this has happened at your company before, I’d be concerned it may happen again and maybe you should look around if it causing you stress - I know that’s not the easier thing to do though!
Yeah my last place went through 2 rounds of layoffs within 6 months so I’m always wary of that. Always being in my toes helps but it isn’t the most comfortable place to be.
Have your resume ready, and commit to maintaining friendships and relationships. They are the people whom you can reach out to if /when you get laid off. Mindfulness/meditation practices go a long way as well. :)