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How To Bounce Back After Being Laid Off — Introducing Layoff Lifeline

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Headlines of mass layoffs came in waves starting last year: 46,000 jobs cut in November 2022, 125,000 employees let go by Christmas, then at least another 81,000 laid off in January. Thousands of people were laid off from tech companies like Meta, Amazon, Google, Microsoft and many more as inflation hit a 40-year high in 2022 and recession fears echoed across industries that had been much more accustomed to explosive growth.

So for hundreds of thousands of you, the headlines became personal.

That’s why we’re launching Layoff Lifeline, a new, pop-up email newsletter that brings Forbes’ expert career advice directly to your inbox. We’ve curated a six-part series on networking, résumé guidance, interviewing tips, and more to help you stand out from a crowd of applicants and secure your next job. It’s free to sign-up, and you’ll get the first newsletter in your inbox right away.

We know a layoff can be a traumatic experience that leaves many feeling uncertain, especially if it’s been a few years since you’ve been on the job market. In putting together Layoff Lifeline, Forbes asked top recruiters and career coaches some of the following questions:

Is It Hard To Find A Job After Being Laid Off?

It depends on your specialty, but data from March 2022 through December 2022 shows that more than 70% of people who were laid off had found a new job within three months. Even better, more than half of those workers also reported a higher salary at their new job.

How Do You Move Forward After Being Laid Off?

Start by simply allowing yourself time to process, then get a handle on your financial obligations, like making a budget if you don’t already have one. Your job search may include rejections and setbacks, but every career transition comes with challenges, whether you were laid off or not.

Why Are Big Tech Companies Laying Off So Many Workers?

We’ve seen recent layoffs at a number of major tech companies, including Apple, Google, IBM, Microsoft, Meta, and many more. The running narrative goes something like this: In 2020 and 2021, the pandemic spiked demand for many goods and services, as well as talented workers. But as the pandemic’s economic impact waned, soaring inflation and higher interest rates led executives to consider payroll reductions—not to mention pressure from some investors to scale back on expenses in order to protect profit margins.

To learn more about bouncing back from a layoff and finding your next career move, subscribe to Layoff Lifeline now.

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