Few experiences are as gut-wrenching and emotionally devastating as getting laid off. One minute, I was at my desk, working and checking emails like any other Monday morning, when a sudden calendar invite for a “quick meeting” with my manager popped up. The next minute, my entire world came crashing down—like being thrown out of a plane without a parachute, my life in absolute free fall, the financial safety net I was relying on to catch me ripped to shreds before my eyes.
“A job is a job is a job, and there is a recovery to come from [the layoff],” says Janine Dennis, chief innovations officer at Talent Think Innovations. “Oftentimes… these things are well out of your range. You can’t really control if your boss likes you… and you also can’t control what the market is doing.” According to the U.S. Labor Department, in September 2024 job openings fell to their lowest level since 2021.
From Bed Bath & Beyond owner, Beyond Inc., and career giant Indeed laying off 20% and 8% of their workforces respectively, to the aerospace titan Boeing cutting 10% of its workforce—roughly 17,000 jobs—it seems no industry is spared from mass layoffs in 2024. These aren’t just statistics—they are careers and lives upended as skilled professionals are thrust into one of the most uncertain job markets in recent memory. Staffing firm Mondo compiled an extensive list of companies that have laid off employees in 2024. However, layoffs are not a career death sentence. They can be a launchpad for transformation to bounce back stronger than ever.
Here are three strategies to help you survive and thrive after a layoff:
1. Allow yourself to grieve, then get over it and take action
It’s normal to grieve for a few days after a layoff, but remember you lost a source of income, not a life. In most cases, you’ll be forgotten by your coworkers within two weeks, a month, if you’re lucky. I got home that Monday, bought a giant cheesecake and a massive tub of ice cream, and watched ’80s action movies for three days straight. By Friday, I was ready to get down to the business of rebuilding my career. Those few days of grieving were necessary, but I knew it couldn’t last.
For some, a layoff can be a redirection, as Miranda VonFricken, founder and host of the podcast Own Your Awesome, discovered firsthand. After surviving four layoffs, she decided to become an entrepreneur. She says that after her first layoff, bouncing back became like an Olympic sport for her. “I had been laid off three more times in the matter of the next four years,” she says. “And so the rejection started to look like a redirection for me. And mindset-wise, I started to flip the switch and say, maybe this isn’t happening to me; it’s happening for me… I wanted to really own the idea that I was being redirected.”
Transform your layoff into a strategic reset with these steps:
1. First, take 72 hours to a week to grieve using a healthy coping mechanism to manage your emotions.
2. Next, start your comeback like a typical work day. Take stock of your recent achievements and then create two lists—your immediate financial adjustments and your nonnegotiable daily routine.
3. With your routine set, reach out to your contacts for leads and explore potential career shifts. Approach your recovery plan like a flight checklist. It should be methodical, time-bound and designed to get you back on track.
2. Develop multiple skills to help you thrive in a changing business environment
Reid Hoffman, cofounder of LinkedIn, predicted that within the next decade the traditional 9-to-5 job model would be obsolete and replaced by the gig economy. To succeed in the new economy, you must stack skills that position you for a future of independent work. This is similar to Renaissance men like Leonardo da Vinci and Michelangelo, who had expertise in various skills, offered clients services and earned income from multiple streams.
With tools like Claude and ChatGPT, you can now access the equivalent of a dozen Ph.D.s at your fingertips—all for as little as $20 a month. You can use them to learn any skill fast for a fraction of the cost of a degree or certificate. Use YouTube as a resource to research and study in-demand skills instead of spending that time on entertainment content.
Take it from Tony Woodall, founder of The Leaders Path, who turned his layoff into a successful consulting and education venture. “One of the things that I did when I got laid off is I started a YouTube channel,” he says. “I chose the travel niche… hired a team of people to create the videos for me, and… I now have over 925,000 views on the channel,” he says, adding that technology and AI have been “a big help.” By embracing digital tools and new media, Woodall created a fresh income stream and adapted to a rapidly evolving job market.
If tech isn’t for you, consider real-world skills in the trades. Millions of baby boomers are hitting retirement age now through the next few years, and many do not have successors for their companies. You can take courses on Udemy, apprentice in a chosen trade, learn to run and grow the business using your native digital skills, and then negotiate a purchase on friendly terms with creative financing.
3. Build a personal brand to attract opportunities
Most people focus on building their reputation only within their team or organization because they’re angling for a promotion or looking for a favor. In the age of post-traditional employment, you need to have people know, like and trust you beyond your current sphere of influence.
When Randy Pulayya, founder of West Indies Peppa Sauce, and his wife were laid off in early 2024, they used the experience to propel them to launch their business. “We were very intentional about how we were looking to grow our business,” he says. “Our ‘why’ at West Indies Peppa Sauce is about preserving culture for the future generations.” Randy developed a brand that stands out and connects with customers personally by focusing on a mission that resonated deeply with his background and values.
You’re not restricted to your current geography or zip code in this new world alone. Thanks to the internet, you can make friends with people halfway around the globe. You need to make daily or weekly deposits in your trust bank account with your network so that you have a wide support system to lean on should things go south on the job. It’s much better to have a network of warm contacts who have already come to like you over an extended period than to start building relationships when you’re in a challenging situation.
Start building your personal brand today by being more active on LinkedIn and other social media platforms. Like and comment on posts that resonate with you and connect with people you share interests with in person or in online groups. Make it a habit to meet with two new people every week, either online or in person. Over time, your efforts will create a strong network of trusted contacts who know your strengths and value your expertise. Investing in these connections now will ensure you have a wealth of opportunities and allies in the future, regardless of where your career takes you.
Photo courtesy of fizkes/Shutterstock
