What to do if you’re worried about getting laid off
Being great at your job no longer guarantees you'll keep it. What to do given this.
Last week, several members of my team got laid off. I can personally vouch for how talented they are. (If you or someone you know is looking for excellent user researchers, you can find two folks in that category below. I’ve included some info on them with their permission.)
If you’ve been laid off before, you can relate to what they’re feeling. If you haven’t been laid off, you can probably imagine how disorienting it would feel to suddenly lose your job.
If you’re currently employed but are worried about getting laid off, this article is for you. I share the following thoughts in hopes that they validate your worries and offer practical steps to navigate that concern.
If you work in tech, you have good reason to be worried about getting laid off. According to Layoffs.fyi, in 2023 alone, 551 tech companies collectively laid off 165,622 employees. No job is guaranteed. You (as an employee) are dispensable. Your company is not your family, no matter what your jet-setting CEO says. If you have high recurring expenses and/or people to provide for, this may well be doubly worrying.
If you’re concerned, you’re not alone. I am concerned. Many PMs I know and think are excellent are concerned. I used to think if I just did great work, I could avoid being laid off. After seeing several excellent coworkers get unceremoniously let go, I no longer believe that.
So, what should one do while employed given this?
My advice: assume you will be laid off in the next 6 months, prepare accordingly. I find this reframe helpful because it basically assumes the worst (so you can stop worrying about it) and then prompts you to think strategically about what you’d do in this worst case scenario.
What would you do if you knew you’d be laid off in six months?
If I were definitely getting laid off in the next six months, I’d do the following:
Build financial cushion
Build identity outside my job
Figure out what I want to do next
Position myself to get what I want next
Enjoy the moment
Build financial cushion
Most of us need our own money to ensure we have basic needs met. Maslow’s Hierarchy of Needs and all that. If you already have tons of savings, great. If not, I’d recommend starting to build that now. While you’re between jobs and don’t have a paycheck, you may need to dip into those savings. The good news: nearly 80% of tech workers find a new job within 3 months. The bad news: you may or may not be in that 80%.
Build identity outside your job
For many of us, the PM job is not just a source of income. It’s also, often, a source of purpose, meaning, and identity. If you fall into this category, I strongly recommend ensuring you nurture and develop other sources of identity. This will make a sudden job loss less distressing.
Figure out what you want next
When you have a steady job, it’s easy to not think hard about what you want to do next. Figuring this out can be hard; most of us avoid doing hard things if we don’t have to. However, if you suddenly lose your job, you’ll need to figure this out. At that point, figuring it out will be a lot easier if you’ve started thinking about it already. My approach: start by having a think on life goals, then have a think on a set of work goals to support those life goals, then determine your next career step based on what advances you towards those life and work goals.
Position yourself to get what you want next
Once you have a sense for what you want next, it’ll be easier to position yourself to get that. Let’s say you work at a startup and want to move to big tech next. What do you need to get a PM job in big tech? Once you have that criteria in mind, it’ll be easier to figure out what you need to do today to prepare for that job seeking cycle tomorrow. Some things I’m trying to do: get clear in my own mind in what I want next in my career, document my work wins in a personal google doc, build/nurture my network.
Enjoy the moment
This one may seem odd… hear me out. Life is always uncertain. Tough things can and sometimes do happen. While I find it helpful in my own life to acknowledge and prepare where appropriate, I also think it’s important to not let that realism spoil your day to day. If you’re currently working as a PM, most likely you’re doing pretty well in the grand scheme of things. It helps me to try to keep that perspective and prioritize doing fun, non-work things. For me, that looks like doing the Wordle every morning, spending time with my friends and girlfriend, going on morning walks, and watching too many Instagram Reels.
Hope that helps!
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📝 Recent writing
Why I’m writing more. Spoiler… my Dad [🔗LINK]
💼 Interesting job listings
Spotify jobs: I’m happy to refer you if you’re reasonably qualified
Other PM jobs of note
Atlassian, Principle PM, Confluence Migrations [🔗LINK]
👥 Awesome people looking for jobs
Ali Fradin, Senior User Research, Manager, NYC-based ex-Spotify
Lindiwe Makgalemele, User Researcher, UK based ex-Spotify, sponsorship required
Ella Lin, User Researcher, NYC based ex-Spotify, interested in freelancing user research/market research projects, especially for global/APAC markets
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Cheers,
Lachlan
Very helpful article!
Thanks, Lachlan, for sharing such compassionate -- and clear -- advice.
Your recommendation about building identity outside your job is 100% on the mark. Back in 2008, I was in a valued but non-core role at a company being hit pretty hard by the financial meltdown. It didn't take too much brainpower to see where this was likely to go.
I spent some time that spring thinking: "If I needed to find a new job -- or a new career -- who are the first five people I'd call?" And then I reached out to a few of them, before anything officially happened at the old job, just so they were caught up with my situation. When severance day happened, it was a lot easier to reconnect with them and talk about next options. One or two of those conversations actually led to exciting new jobs/gigs. But the most helpful chats were with people who simply helped me get my life-alignment right. ("What do you like doing?" "Are you looking for prestige or pay?" "Do you want something as close to your old job as possible, or to make a fresh start?")
Landing on our feet can be tricky if we try to do it all alone. If we have a few allies being there to help, it's a lot easier