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  1. #1
    Join Date
    Nov. 30, 2006
    Location
    Gastonia, NC
    Posts
    275

    Default If you know you are going to be laid off, wwyd?

    Its not like I have years to prepare or anything, but I am scheduled to be laid off sometime between June and August. What things can I do now to be prepared?

    I thought about going back to college, but if I don't get laid off until August, there is no way I can get in for the fall semester.

    Been looking at other jobs but most things wouldn't pay more than I would make in unemployment. I keep submitting resumes anyway though.

    I would really like to try to stay on my farm full time. I am full with boarding, teaching about as many lessons as I can handle working a full time job too. I'm just scared of not having a real dependable income.

    What would you do in this situation?



  2. #2
    Join Date
    Jan. 12, 2000
    Location
    Proud owner of one Lunar acre! (Campanus Crater, The Moon)
    Posts
    14,013

    Default

    Take the unemployment and keep looking for a job. I'd see what you can find. Unemployment buys you a bit of time. Not at full pay, but time to figure things out. I wouldn't go back to school unless you could get a Pell Grant or something like that to pay for all of it. If you have to pay, it's not worth it and it's definitely not worth the debt. Try to stay in your same field of experience, even if that means doing something that's more like temp work (if possible) when looking and when unemployment runs out or you need more money. If you want to try something new, be careful that you don't impact your unemployment benefits and lose them.
    "Relinquish your whip!!"



  3. #3
    Join Date
    Apr. 15, 2008
    Posts
    1,386

    Default

    I would be doing whatever it took to find another job BEFORE getting laid off unless I was in a position to not have to find another job.

    As a hiring manager, I can tell you that in our industry (aerospace) a candidate is more attractive before they are laid off. Sad, but true.

    Of course, you'll need to balance any severance package with your decision.

    Good luck and sorry to hear about the situation.



  4. #4
    Join Date
    Jun. 25, 2004
    Location
    Carolinas
    Posts
    4,572

    Default

    Agree with Velvet. Also have several friends who were laid off and found employment with the same company, in somewhat different roles. If your company is large enough apply with them.
    Also email or call your work contacts, they often know of openings and can help you move within the same company. Last April I moved to another position and am now able to work from home
    "Never do anything that you have to explain twice to the paramedics."
    Courtesy my cousin Tim



  5. #5
    Join Date
    Mar. 23, 2005
    Location
    SF Bay Area
    Posts
    2,640

    Default

    Quote Originally Posted by atlatl View Post
    I would be doing whatever it took to find another job BEFORE getting laid off unless I was in a position to not have to find another job.

    As a hiring manager, I can tell you that in our industry (aerospace) a candidate is more attractive before they are laid off. Sad, but true.

    Of course, you'll need to balance any severance package with your decision.

    Good luck and sorry to hear about the situation.
    Excellent advice.

    I'd also suggest finding out what your cobra options would be if you do wind up out of work.



  6. #6
    Join Date
    Sep. 24, 2010
    Posts
    37

    Default

    I would also check on your state laws regarding unemployment since you also have self employment income. You may or may not be able to receive unemployment because of that.



  7. #7
    Join Date
    Aug. 17, 2004
    Location
    Rixeyville, VA
    Posts
    6,464

    Default

    Network like crazy now. Make sure that other people know you are looking. Many openings are never advertised and word of mouth is a great way to find a job. Keep those resumes pumping into the system.

    If staying on the farm and being self-employed is attractive, work out what you would need to earn to make that happen. It may be busy now, but how about in January? Is the economy strong enough in your area to support the kind of boarding, lessons, training, sales activities you could offer.

    As someone else mentioned, COBRA is important if you plan to keep your employer's health insurance. It is going to cost 102% of the full premium to maintain. If you have health coverage elsewhere, then not a worry. I would not recommend going without it particularly if you are going to run a barn business.

    Finally on the college -- it's not clear what kind of degree you are seeking or where in the education process you are. If community college is an option, take that route as it saves money. I do think taking a college course will help you -- it looks good on a resume to be improving yourself and it gives you yet another venue for networking.
    Where Norwegian Fjords Rule
    http://www.ironwood-farm.com



  8. #8
    Join Date
    Nov. 30, 2006
    Location
    Gastonia, NC
    Posts
    275

    Default

    My insurance will be paid for until Sep 2012 by my current employer, that was a huge relief!

    I am thinking about becoming a vet tech. Even if I don't go into the veterinarian field I figured it would be helpful to me on the farm.

    Last year my farm income ended up being negative after expenses. However, I also live on my farm, basically anything I do to my property can be written off as business expenses. I need a new well, so do the horses (that kind of thing)

    I am currently working in the public school system.



  9. #9
    Join Date
    Aug. 17, 2004
    Location
    Rixeyville, VA
    Posts
    6,464

    Default

    Be careful with the writing off on your taxes. You need to keep your business and personal completely expenses separate.

    So with your example -- need a new well -- only part of it can be written off since both YOU and the horses need water. The best you could hope is that the portion of a new well would be a capital improvement that reduces your basis upon sale, but that's not going to help until you sell the place. The other thing about tax deductibility is -- you are only "saving" the percentage of the tax bracket you are in. And, you can only take losses against the income you have with some rules on future carryforwards on losses.
    Where Norwegian Fjords Rule
    http://www.ironwood-farm.com



  10. #10
    Join Date
    Feb. 23, 2005
    Location
    Spotsylvania, VA
    Posts
    12,773

    Default

    You may not be able to collect unemployment if you go to school.

    What about health insurance? There are companies such as Starbucks that offer health insurance to PT workers
    I wasn't always a Smurf
    Penmerryl's Sophie RIDSH
    "I ain't as good as I once was but I'm as good once as I ever was"
    The ignore list is my friend. It takes 2 to argue.



  11. #11
    Join Date
    Jun. 21, 2004
    Location
    Central Florida
    Posts
    4,053

    Default

    just remember you don't get paid for the week you file unemployement. So if you know when you will be laid off file the week before.
    *^*^*^
    Himmlische Traumpferde
    "Wenn Du denkst es geht nicht mehr, kommt von irgendwo ein kleines Licht daher"



  12. #12
    Join Date
    Mar. 12, 2006
    Posts
    4,343

    Default

    In NC you can go to school and get unemployment as long as you can still look for and accept work. When I went tograd school I became ineligible only because I took a student teaching gig on campus. You can also make income= but over a certain point it counts against your benefits. So when you call in, if you made say, $300 that week teaching, up to $x is fine, then the rest is subtracted from your benefits. The good thing is that if you report your income say, once a month you have 3 weeks it does not count against you.

    I'd go to like CPCC or something. So sad to see teachers and educators laid off. UGH



  13. #13
    Join Date
    Oct. 28, 2007
    Location
    Virginia
    Posts
    1,495

    Default

    Go the unemployment office and see about retraining programs.

    Cancel your unnecessary bills like NetFlix, gym memberships etc.

    Plant a garden

    Take in a boarder

    Get rid of as much debt as you can

    Good luck...



  14. #14
    Join Date
    May. 15, 2006
    Location
    Eastern WV Panhandle
    Posts
    1,246

    Default

    Last September 15 people, including me, were told that our jobs were being terminated at the end of the contract year (March 31, 2011). All of us brushed up our resumes and immediately started looking for new jobs.

    I was the last one to leave - last Dec 20 I started my new job. Funny thing is they begged me to stay through March, but my new employer needed people ASAP and offered a higher salary.

    My point is, there may be something else out there that is better than the job you have now, but you need to start looking immediately.



  15. #15
    Join Date
    Jul. 31, 2009
    Location
    Pittsburgh, PA
    Posts
    1,001

    Default

    Depending on the circumstances, you may be eligible for TRA/TAA benefits. Basically, the state pays for you to go to school to become more employable. I was laid off in 2003. Because my employer was considered a down stream supplier to the airline industry, after 9/11 occurred, we were eligible for extended U/C benefits, in addition to the TRA/TAA benefit.

    Was already going to school to part-time through my employer's educational assistance program, so I applied for the TRA/TAA benefits and was able to complete my BS degree at not cost to me and I was able to collect unemployment during that time as well. In my case, being laid-off was one of the best things that ever could have happened to me at that time.

    In PA, we have the unemployment compensation folks and then there is another organization run through the state called CareerLink. I would recommend finding out if your state has a similar organization and getting in touch with them for assistance. For my particular case, I found them to be an invaluable asset.

    Best wishes to you!



  16. #16
    Join Date
    Jun. 30, 2006
    Location
    SF Bay Area, California
    Posts
    4,248

    Default

    Sometimes severance packages can be negotiated, so if/when you do get called in to HR, don't sign anything until you have read everything over. They cannot force you to sign anything right away, but they will probably withhold your severance until you do.

    As others have said, but back on all "luxury" things, you will be surprised at how many things you can let go of without missing them.

    Save as much money as you can for the next few weeks so that you aren't in a panic situation when you are laid off. You are really fortunate to have the security of having your health insurance benefits paid for a while, so make sure you take care of any medical needs while you still have insurance, just in case.

    When you do get laid off, allow yourself a short amount of time to have a "pity party" then get back on your feet and move on. Maybe you will be lucky and have a new job before then anyway.

    Best wishes to you!
    Proud owner of a Slaughter-Bound TB from a feedlot, and her surprise baby...!
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  17. #17
    Join Date
    Sep. 29, 2009
    Posts
    2,576

    Default

    Being laid off twice, I would start saving $$ right away. Stop buying stuff. Sell whatever you have you think you need to sell that you can do with out. Downsize. Yes, you may find a job, but what if you do not?

    Downsize stuff fast. Save money.



  18. #18
    Join Date
    Mar. 9, 2006
    Posts
    1,830

    Default

    Put together a list of contacts and references, and make plans for keeping in touch with them. People scatter to the four winds after a layoff.



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