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  • Protect Yourself From A Downsizing Profession

    Before you become a layoff victim, reorganize your finances so that your liabilities are as low as possible and set up an emergency fund.

    Many people don’t realize that industry downsizing will affect their jobs until it’s too late.  The answer?  Even if your position seems secure, be vigilant and proactive.

    One key question to ask yourself is if there have been major layoffs or consolidations in companies similar to yours.

    Even if you’re in a comparatively desirable area like IT, if you are working in a field that’s in trouble (e.g. manufacturing, retail), you may not be able to rely on cushy severance packages or the ability to quickly land a job with a competitor. Before you become a layoff victim, reorganize your finances so that your liabilities are as low as possible and set up an emergency fund.  Update your résumé and line up your references so they’re ready to go when you need them.

    This may be the time to move to an industry in which jobs are more plentiful. Healthcare and private education continue to see employment gains, and if you can use your current skills in an area that received funding from the economic-stimulus plan, all the better.

    Many professionals are daunted by the prospect of a mid-career industry switch, but as long as you have the core skills and enough basic knowledge to hold your own in an interview, you can feel confident.

    Read More:

    http://alexandralevit.typepad.com/wcw/2011/02/protect-yourself-from-a-downsizing-profession.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+WaterCoolerWisdom+%28Water+Cooler+Wisdom%29&utm_content=Google+Reader

    Upstart: Business and Management for 20-40 Year Old Professionals

    Filed Under: Career

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