KWR: Lay Offs in the future. kinda freaking VENT

If you want a pre-approval for January I would get a new job like now asap. As long as the new job is in the same field they shouldn't care too much depending on which bank or mortgage company you go through.

Don't quit, but look for a job. It's easier to look for and get a new position while you're working than when you don't have one,

Don't quit Until you have landed a new job

I would start looking now. If you find something new that provides long term job stability you'll have an easier time walking away from the 1 year bonus, and sleep better at night.

How much of your salary will the $3k cover? If you wait it out, that's how long you have to find a new job if they completely lay you off. Plus you'll have a year experience then and "my company is outsourcing my position" is a perfectly fine reason to leave a job.

Why not get your pre-approval in December?

3k is only like a month ...not even

Get your resume out and circulating asap. My friend's company told her she would not be part of the upcoming layoffs, but as of Friday she's out of a job and looking for a new one. It's much better to have your resume in other employers' hands while you still have steady income.

I agree with pp on looking for a job now before you get laid-off. While the 3k is a nice perk, having a steady job with more security is better than that bonus. Also, when you are ready to get pre-approval, include a letter explaining your job change situation (if needed). I decided to resign from my job to relocate a few years ago and desperately needed to take a year off from that profession because I was burned out. When I was ready to return to that profession and landed a job, I was ready to buy a new house. All my mortgage broker suggested to do was write a letter explaining my past year and there should not be a problem. There wasn't, and I was in my new home 4 months later! It will all work out. Good luck, sweetie and keep your head up!

Absolutely stay!! If you are laid off you can receive unemployment and may get a severance package. You also don't want to screw yourself out of your bonus.

I wouldn't bank too much on that $3k, unemployment, and severance route. You said $3k is barely a month's coverage and if you've been there a year, it's probably equivalent to your severance. Not sure what state you're in but unemployment has a max limit it will pay out plus takes awhile to process. If you're used to atleast $3k a month, unemployment isn't going to help cover bills. A few years ago I was laid off from a $7k/month job and while I got the max unemployment, in NY it was around $450/week. Not enough to pay bills and yes, it's harder to find a job when unemployed and desperate.

I would start looking now and get your resume out. It can take months for someone to land a job so I wouldn't assume you'll get a job right away if you start looking.

Thanks ! I think I'm going to try the pre approval in December and start looking for jobs in November... because after an intervier, drug test, and background check it will be atleast three weeks before orientation and all that. I'm working 9pm-7am right now so even if I have to do orientation while working I can go after work as long as drive time permits

I like in MA so standard of living $ is pretty high here

I would start circulating your resume - at least have it posted to the major job boards recruiters use to source: Monster, Indeed, CareerBuilder, Jobvite, LinkedIn. Echoing what PP said, unemployment will only offer so much, it's better to find a new job now (even if it is less pay), than rely on unemployment that might not meet your needs. As for pre-approval, when we were getting pre-approved I just started in a new position, and was told even though it was more money, being in the position for under a year would hurt my application. I don't know if it's true or not, just food for thought (we still went ahead with the pre-approval).

My FHs company went through major lay-offs in January, and they were only rumors for the month prior - they didn't let anyone know until the day of when they handed out term notices. At least here you have a solid 6 month notice. Yes, it would suck to lose the 3k bonus, but it would suck more to be unemployed.

Also, dealing with FH through the uncertainty of his job was really tough. He was on edge and upset know either he would lose his job, or he'd be saying bye to at least half his peers. Remember to take care of yourself and look at the end game. You'll know what decision it best for you - trust your gut. You got this!

ETA: I saw you previous comment. If you do start looking for a job I would definitely do it before November, I am an internal recruiter and the "ideal timeline" for a position to be filled is, yes, 30 days. However, realistically, it can be up to two months. Granted I work in the DoD world, and not healthcare, but I would still start AT LEAST a month or two before that. When you start interviewing you can let them know when you'd be able to start. It's possible they would issue a contingent offer, granting you the job if they don't fill it by the time you're able to start.

I worked in finance during the recession and went through many rounds of layoffs. I understand being fearful since you're the newbie but in my past experience they always got rid of middle management and some of the more senior employees. Their salaries were higher and the company benefited more by getting rid of them.

I manage a company and recruit, I would not recommend waiting till November to start looking. Our company hires pretty quickly but still that's a minimum of 30 days and that's after we get someones resume.

We are hoping the union will step in but you know how unions are ... a lot of bark but not always the bite

Start updating your resume and (if you're not already) join LinkedIn, try to connect with a recruiter. It never hurts to look for other jobs and to keep your interview skill sharp! But, make sure that the job you leave for is a job you actually want, and not a fear move! Good luck and keep your head up!

I agree with the above. Don't do anything rash, but get your resume ready and out there. Better to have an offer and turn it down because your staying, then to wait and have nothing. I'm Federal, and we're also concerned about layoffs...

As crappy as it sounds, and I'm not saying it's right but it does happen often, they may fire the people who have seniority and not the new people, because it's more cost effective for them. People who have been there for years are probably earning more.

Nonetheless, get your resume ready and start looking!

I work in the medical field, and know how hard it is to get a new job with limited experience. I say go ahead and stay with your job for now, and in a couple of months start looking. However, I think you should hang in there as long as possible while looking. We have been through layoffs before, and the people with the least seniority are not always the first to go.

First of all, there will probably be tons of people with more experience who leave because they don't want to take the chance of having no job, and hardly anyone wants the overnight shift, so they may keep you just for that reason. You may get lucky and get the one year bonus, even if you lose your job. I am not saying don't leave if you find a better or equal job, just don't jump the gun.

Good Luck!!