It’s a story heard far too often: a company gets acquired and layoffs happen. Even after many years of loyalty, commitment, and skill, you too could be laid off. Unfortunately, situations like this are not uncommon.
Upon leaving the company, you may be provided with the typical types of compensation you’d expect from a layoff. You may receive a vacation payout, coaching, vested stock options, and severance. While the cash might grant you a modicum of control, it’s still very displacing.
So, what should be your first decision, post-layoff? For many, it’s a vacation! But these same people say in hindsight that they should not have prioritized taking a vacation so shortly after being laid off. Here are some actions you can take in order to afford you some control and confidence over your future career.
1. Get Your Financial Planning House in Order
If you’re not generating employment income, …