As global tech firms downsize, experts share tips on how to navigate layoffs

Last week 11000 employees of META mdash the multinational technology conglomerate which runs Facebook Instagram and WhatsApp mdash woke up to emails announcing that they had been laidoff A few days prior Twitter cut down 90 per cent of its Indian workforce from the marketing communications and engineering teams Indian edtech platform BYJUrsquoS too let go of around 2500 employees Microsoft Unacademy and Meesho employees are also among a growing list of professionals who have been handed pink slips in the past few months From change in leadership to drop in revenues the reasons stated by these companies to downsize are plenty but largescale layoffs end up affecting employees professionally financially and personallyBe honest while speaking to prospective employers acknowledge that you were laid off and that it was a good experience while the stint lastedDonrsquot take it personallyWe spend much of our time at our workplaces or perched in front of our laptops to race against work deadlines So we end up equating our identity with our jobs shares Sushma IR a success coach and founder ReFind You a people development company ldquoWhen that job doesnrsquot exist anymore we start questioning who we arerdquo she elaborates At this juncture itrsquos important to remind yourself that the layoff is a setback and not a personal failure she advises ldquoSecondly losing a job that you love is like losing a loved one Give yourself time to grieverdquo the coach says Sushma IRShe stresses on the importance of expressing the hurt betrayal disappointment or grief that one might be experiencing instead of bottling it all up to rush towards the way ahead ldquoAllow yourself to feel those emotions Talk to a friend or a close one or a professional Express it in a healthy way through journalling or any other mediumrdquo she reminds us elaborating on some other pointers to keep in mind in this season of global layoffs When there are rumours about layoffs in your company it is advisable to address the same with your manager Instead of confronting from a space of fear it helps to know if therersquos any truth to the rumours by having an objective conversation with the higherups preferably someone you share a rapport with Then you can rely on them for honest information It is better to have a casual facetoface chat or a call rather than an email exchange If itrsquos an organisationwide affair the manager may not want to be put on official record If the rumours are confirmed begin the process of updating your reacutesumeacute and activating your network base In case you are laidoff without a notice period figure out the basic amount you need in order to manage your financial commitments A lot of people at the onset are okay with taking big pay cuts or grabbing the first opportunity that comes their way While negotiating future job offers try not to accept any compensation below the amount you absolutely need Donrsquot try to be sneaky about having lost your job If itrsquos a mass termination chances are that your prospective employer will already know about it so no point hiding Acknowledge that it was a bad thing that happened but donrsquot badmouth your previous employer At the same time explain what you bring to the table highlighting the successesTHEY SURVIVED AND REGROUPEDLight at the end of the tunnelIn 2015 while working with a USbased company Sandeep Kochhar a 45yearold techie found his worst fears coming true On New Yearrsquos Eve over a Skype call his boss fired him ldquoThe first thing that struck me was lsquowhy mersquordquo recalls Kochhar founder and storyteller Blew Minds Consulting At the time he had a sevenyearold kid and a slew of financial commitments ldquoI fell into a bout of depression To compound matters in Indian society therersquos a lot of stigma attached to layoffs no matter the reason behind the termination People find a way to raise a finger on your worth That leads to crippling selfdoubtrdquoiEventually he landed a job in a few weeks but it led him to question whether he really wanted to go back to a fulltime setup ldquoI had worked for 15 to 16 years by then My son was young and used to go to a daycare after school I felt that I should use this time to do something so I can spend more time with himrdquo he tells us Kochhar also realised that he didnrsquot want to go back to working in an environment of fear He then negotiated the offer and turned it into a consulting assignment Gradually other assignments started pouring in and simultaneously he started upskilling After trying his hand at starting different businesses for three rough years he took to LinkedIn to express his failure stories in 2017 His straightfromtheheart posts struck a chord he started hitting two million views a month ldquoThat rose to five million and in no time the firm I cofounded with my wife became a storytelling firm LinkedIn recognised me as one of the Top Voices India I run two startups and have impacted around one million lives through them There was light at the end of the tunnelrdquo he notes sharing a few tips for laidoff employees There are two ways of looking at a layoff mdash itrsquos a horrible thing or itrsquos a great opportunity Your back is to the wall and itrsquos a great time to reassess your life what you want and judge if you can take a risk Find something to put your effort into while yoursquore figuring things out For instance take up certification courses or go back to studying It keeps you busy and fills the employment gap on your CV A gap on the reacutesumeacute is a red flag in the hiring process Freelancing too is a good way to slowly get back into the job market and you can show it on your CV Keeping yourself busy with studying or learning new skills or freelancing also helps to broach the subject of a layoff with your prospective employerDonrsquot rush into a new jobIn the peak of the first wave of the pandemic less than a year into his job media professional Kartik Bhardwaj was handed the pink slip ldquoOne day before work I was put on a conference call with my boss and his senior Apparently my name was on a lsquolistrsquo that came from the head office and they had to lsquolet me gorsquordquo the 27yearold recalls With COVID19 wreaking havoc in the job market it was a trying period which he was able to ride out with prudent financial planning Armed with the belief that he wouldnrsquot rush into just any new opportunity the writersubeditor landed a gig within a couple of months He suggests It is important to have a separate fund for yourself apart from your fixed deposits and mutual funds I keep about 10 per cent of my salary in a separate account for unforeseen incidents like this I try to have two months of my salary in the account to sail me through dry days Apps such as Freelancer can help you get some parttime gigsSet aside a portion of your earnings for a dry spell Getting laidoff in less than a year looks bad on your CV Although most of the employers understood that I was fired due to the pandemic I was transparent with every place I applied to I donrsquot recommend being desperate and going for any job that comes your way Itrsquos an opportunity to find the perfect role for yourself and fill up the gaps you experienced in your previous workplace Mental wellbeing job stability and worklifebalance became nonnegotiable factors for me