You love your job because it challenges you daily and you earn a decent salary. However, you are getting worried because projects are not coming to you as frequently as they once did and you are getting fewer hours. These are two of many ways to detect a future job layoff. Remember that a layoff does not mean doom for your career. It means that you will have to restructure your goals so that you can advance professionally.
Major resignations
One way to detect a layoff is widespread resignations within the company. The main reason for the resignations is that the persons resigning no longer have confidence in how things are done there. Other reasons for resignations could be pressure from human resources, potential scandal that might involve those persons or an overall restructuring of the company.
Earnings are iffy
Another sign of a layoff is that the company's earnings are not the best. When this happens continually over a period of time, the company management might decide to make changes that could include laying off certain employees in key positions at the company. This would be the time to seek out a new job.
Your company has a brand new team
In some cases, companies may not be suffering financially but are looking for a new direction. This is when they hire consultants and others to form a new team for the purpose of reorganization. The new team might examine the effectiveness of certain key positions within the company and let human resources know what will work and what should be left behind going forward. Sometimes this means laying off a few employees.
You are reassigned to a less significant position
If your manager suddenly assigns you to a position that is of less significance than the position you held for years, then this might mean that you could lose your job. A main reason for this is because the company no longer sees your current position as important, or they might want a new person for the position.
Your salary decreases gradually
In addition to the decrease in salary, your manager might also discuss the possibility of taking a pay cut. He is telling you by his actions that you or the position you hold are no longer of importance. If this happens to you, you should hunt for a new job since a layoff could occur.
Talks on outsourcing into
Some companies are trying to cut costs and if they feel that certain positions should be outsourced, there is a chance that you might experience a layoff. One thing you can do is train for a position within the company that is less likely to be outsourced.
Tips on dealing with a layoff
You should begin a new job search as soon as you notice a few of the above mentioned signs. Tap into your emergency savings to pay bills and stay afloat financially. Be willing to take jobs that are not in your field to build your income. Get emotional support from loved ones and stay optimistic.