Magazine article Strategic Finance

Dealing with Unemployment. (News)

Magazine article Strategic Finance

Dealing with Unemployment. (News)

Article excerpt

ALTHOUGH LAYOFFS SEEM TO BE SLOWING DOWN, ACCORDING TO SEVERAL industry reports, they aren't over yet. If you are let go, your immediate priority is to deal with the aftershock, advises John A. Challenger, CEO of Challenger, Gray & Christmas, Inc., outplacement firm. "You have to be careful what you say or do, or you may seriously damage your prospects for reemployment later on," he emphasizes.

Challenger offers several things to avoid doing and several things to do:

Avoid emotional outbursts of arguments with your former employer. They serve no purpose and may harden the company's stance against you with regard to severance. Even though you may want an explanation, employers don't have to let you know their reasons, and their decision isn't going to change.

Avoid the urge to sue. Trying to get even by suing your former employer can be damaging to your career because most prospective employers shun anyone who has sued a former employer, even though such action is illegal. They worry that you might sue them sometime if they hire you.

Avoid burning bridges. Leave without acrimony or criticism, no matter how strongly you feel about being discharged. You may need the ex-employer for a reference, or you may want former associates and friends at the company to give you a reference. You also might need the company for something else in the future.

Avoid "dumping" on your family when you get home. Tell your family right away what happened, and don't try to hide anything from them, but don't vent your anger and frustration on them. …

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