Just one month ago it was estimated that 33,000 Wall Street jobs would be gone by June 2009, but that number has come and gone after the havoc on Wall Street this week. Lehman Brothers was one of the most known and respected names on the Street, and its collapse came as a shock to those of us on the outside who didn't have a stake in the company.
Many of Lehman's now ex-employees have said that even though they spent hundreds of hours inside company walls, the whole thing came as a surprise and feels like a carpet was ripped from under them — if there's anything we can learn from their unfortunate experience, it's that we must stay on our toes. It's easy to get comfortable in a job that is seemingly secure and it's important to keep in mind that anything can happen. Find out how to hope for the best, but plan for the worst, when you read more.
Give your resume regular maintenance so all of your accomplishments are in one place: When it comes time to apply for jobs, simply tweak your main template for each position. Sustain relationships with people that have first-hand experience with your skills, and know that cultivating those connections could save you down the road. And if you have a clue that your company is in trouble keep giving it your all — when your job is eliminated, you'll need those references.
Rick Cardona
Start London
Karen Millen
Being of Asian decent I have close friends and family working in the medical field. A couple RNs close to me have been laid-off, and a handful of hospitals are getting close letting their workers go out on strike because they cannot meet the workers demands. The only guys that look safe are the few doctor friends and family of mine.
1I am very lucky in my industry, as we sign very lengthy contracts with other very large companies for new infrastructure, so I will be able to ride it out for a while... But I do honestly worry for everyone else out there who will be affected
2ohh wow, I can definitely understand how these people feel. My heart truly goes out to them. I hope in the mean time they will be able to find jobs that will help them with their daily life. I know they probably need to downsize but even with that I hope they can find something that get them over the hump. Everything seems so unpredictable.
That's great to hear gemsera, glad you have stability.
3Absolutely right! You never really know how secure your job is...there could be talks to get rid of you at any moment.
4it's so scary when you just don't know what's going to happen to your job. my company has been going through layoffs and i don't know what to expect next. i've always maintained my resume, and i have a bank of recruiters who continue to contact me about open positions - that some i consider and others i pass on. i think that there's something to be said about getting 'too comfortable' where you are. people try to live by the 'last hired first fired' mentality -and that's not necessarily the way that it goes. it depends on why they are laying off people and what they need to do to recoup losses. if it's a money thing that they need to cut salaries - then sometimes they fire people with the higher salary, and if they need to restructure because of lost business - then sometimes it's whole teams that go. nothing's certain anymore and you have to stay on your toes.
5It's really scary for everyone right now, my old company just let go of everybody (they did ask a few people to relocate with them) When something happens like with Lehman do they still get severance packages?
but dienliv I don't understand why being of Asian decent has anything to do with people working in the medical field?
6I've been over here LOLing at the "being of Asian decent" comment
7I think what she means is that she has a large network of friends and colleagues to turn to for help/other positions if things go south. Often alot of ethnicities will do this in large cities, and have a very strong community sense and look after their own. Correct me if I'm wrong?
8I'm just surprised to hear about RNs being laid off. It's my understanding that if you're an RN you will always have a job. Well I'm sure those RNs can get new jobs real quick, no need to worry about them.
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