I got laid-off today ...

koukanamiya

koukanamiya

It is what it is
May 25, 2006
7,280
30
#1
I just found out about an hour ago. As soon as I found out, I had to pack up and leave. Essentially, things aren't going well in my industry, all of our competitors are either going out of business or waiting to be bought. My own company isn't doing that great either (I won't elaborate). Therefore, several positions had to be eliminated and mine was one of them. I spoke with my boss before I left and he told me that he suspected that he would be next.

Well ... the above paragraph sounded a bit blah and flat because I think I'm still in shock. It's a bad shock though. This is my second time being laid off. The first time it happened was back in 2001 and I was working as an industry research analyst (and tech writer) at the time. Since the first laid off, I have gone through two industries and several very awful jobs before I landed this one.

Here's the thing ... in spite of the issues I have with my most recent work, it's a bit pathetic for me to admit that it was still the BEST job I've ever had (yeah, just comes to show how crappy my previous jobs had been). And even though there were times when I felt absolutely annoyed and put off emotionally as well as physically because of the work situation, at the end of the day it was STILL a paycheck. I mean, money is good, I can always use more money.

And now ... I'm absolutely unemployed *sigh*. Yes, they gave me a severence package but it was VERY short. I was a financial analyst, so that left me with several options: going back to mortgage (which is a bad idea right now since the market is sh!t), be a financial analyst at a different industry (which is ideal except I don't have CFA or MBA), or go into consulting (but it's probably the toughest field to get into) ... Bottom line is, this laying off is happening at a very bad time for me.

What a grand way to start the weekend ...
 
#3
I'm so sorry to hear of your lay-off. All you can do is try and make the best of it. I believe things happen for a reason, maybe something better is coming:smile:!!!!! Cheer up!!!! Good luck and keep us posted. Thanks.
 
#6
koukanamiya said:
I just found out about an hour ago. As soon as I found out, I had to pack up and leave. Essentially, things aren't going well in my industry, all of our competitors are either going out of business or waiting to be bought. My own company isn't doing that great either (I won't elaborate). Therefore, several positions had to be eliminated and mine was one of them. I spoke with my boss before I left and he told me that he suspected that he would be next.

Well ... the above paragraph sounded a bit blah and flat because I think I'm still in shock. It's a bad shock though. This is my second time being laid off. The first time it happened was back in 2001 and I was working as an industry research analyst (and tech writer) at the time. Since the first laid off, I have gone through two industries and several very awful jobs before I landed this one.

Here's the thing ... in spite of the issues I have with my most recent work, it's a bit pathetic for me to admit that it was still the BEST job I've ever had (yeah, just comes to show how crappy my previous jobs had been). And even though there were times when I felt absolutely annoyed and put off emotionally as well as physically because of the work situation, at the end of the day it was STILL a paycheck. I mean, money is good, I can always use more money.

And now ... I'm absolutely unemployed *sigh*. Yes, they gave me a severence package but it was VERY short. I was a financial analyst, so that left me with several options: going back to mortgage (which is a bad idea right now since the market is sh!t), be a financial analyst at a different industry (which is ideal except I don't have CFA or MBA), or go into consulting (but it's probably the toughest field to get into) ... Bottom line is, this laying off is happening at a very bad time for me.

What a grand way to start the weekend ...
Click to expand...

Am I allowed to say good for you? Because from what I have read about your experiences you should have left yonks ago. At least you get a severance payment; I left on my own accord and I got zilch, LOL.

Don't worry about being laid off, lots of people in finance are in the same pot as you. Yesterday was a massive culling day in investment banks (the bad markets was an ideal excuse to fire people immediately after the bonuses are cashed in because there are too many hires and there needs to be serious restructuring for this year's slowdown).

I am in the same boat as you - unemployed and useless :lol: - so I think I understand your worry. But can I say life is good on the other side and my life has never been any better rolling around on the floor of my house, LOL. I am sure it will be the same for you. At least you can sleep until 10 o'clock and actually eat a proper meal during the day!
 
#9
Kou, I'm so, so sorry about this. There's lots of people here who care about what goes on with you and will be here to listen and commiserate, and eventually celebrate with you when you go on to something much better.

You mentioned not having an MBA. Is it worth getting one? Would now be a good time for you?

Anyway, as Bee...Bee suggested, sleep until 10, eat proper meals, roll around your house as you want, and you'll be all set to tackle the next big thing.

I can't wait to hear what better thing was out there for you. I know it feels terrible right now. Good luck.
 
#11
Bee...Bee said:
Am I allowed to say good for you? Because from what I have read about your experiences you should have left yonks ago. At least you get a severance payment; I left on my own accord and I got zilch, LOL.

Don't worry about being laid off, lots of people in finance are in the same pot as you. Yesterday was a massive culling day in investment banks (the bad markets was an ideal excuse to fire people immediately after the bonuses are cashed in because there are too many hires and there needs to be serious restructuring for this year's slowdown).

I am in the same boat as you - unemployed and useless :lol: - so I think I understand your worry. But can I say life is good on the other side and my life has never been any better rolling around on the floor of my house, LOL. I am sure it will be the same for you. At least you can sleep until 10 o'clock and actually eat a proper meal during the day!
Click to expand...

Under normal circumstances I would see this as a good thing except for the fact that some unexpected expenses came up recently so this was just happening at a bad time altogether. All the financial responsibility had fallen on me due to some things that had been happening in the household so ... well, it's just bad timing right now.

Seriously, now I regret having ever complained about my job ... yeah it got pretty horrible but at least I was getting paid. I'm one of those people who could deal with an awful (but legal and non-porno) job that pays well as opposed to doing something enjoyable but pays zilch. ^^;

I'm trying to decide what to do right now - continue to look for a job in the U.S. or use the severance period to go to Singapore to look for a job there (my SO's been pressuring me to move there and it's tough for me to get interviews there when I'm here in the U.S. - apparently I am not good enough for the ppl over there to bother talking to me long-distance). I really am at a loss at how to proceed at this point.
 
#13
heavensent, vanhornik, gucci_girl_gg, mrs.jones, Impsola, kiss me deadly & MAGS: thank you very much for the support. One of my other concern is that in the past, bad things always happen at once (and last over the span of a few months) so since this is the first bad thing to come ... I'm a bit concerned about what else is coming for me ... Last time things got this bad was when I had to leave my job, close escrow on a house, having to cash out my retirement funds and dealing with my SO leaving to Singapore all at the same time. And this time ... I am laid off just when my Dad retired ... and this is only the beginning. I think I'm stressed out because I don't really have the time to relax right now, kind of have to land a job like right now
 
#14
gga said:
Kou, I'm so, so sorry about this. There's lots of people here who care about what goes on with you and will be here to listen and commiserate, and eventually celebrate with you when you go on to something much better.

You mentioned not having an MBA. Is it worth getting one? Would now be a good time for you?

Anyway, as Bee...Bee suggested, sleep until 10, eat proper meals, roll around your house as you want, and you'll be all set to tackle the next big thing.

I can't wait to hear what better thing was out there for you. I know it feels terrible right now. Good luck.
Click to expand...

I'm sure that a master or phd degree or some type of certification won't hurt at all. If anything, it'll give me an edge when I apply for a job. The problem here is getting an advance degree or CFA will take several more years. In the meantime it's going to be tough, which is why landing a job is a priority right now ... What really disturbed me was that I have been trying to find a better job since October and hadn't gotten anywhere ... I'm feeling very discouraged and defeated. It's not like I'm not doing anything to fix it, I am but I really feel like I am being tested for an extended period of time.
 
#15
NYCBelle said:
I'm sorry to hear about this...everything will work out.

Definitely try going to a headhunter they'll find you something

Good Luck!!
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Thanks NYCBelle. With regards to headhunter, this is the part that always confused me. How do you find one? I've looked online and hadn't been very successful. The ones I ran across always told me that they couldn't help me because I was being paid below-market so it'll be hard for me to find a job (what??), and some had even told me that my abilities to speak several languages is going to hurt me more than help me. Then there're those who said that I didn't have the right major so companies wouldn't even look at me (even though I have been working in the industry that these companies are in for years).

Can anyone send me any good recs on headhunters? TIA.
 
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