The Layoff Care Package (20-Page Resource) has Arrived - Knockout Newsletter 2/14 ❤️🥊
by The Final Round
Welcome back to the Knockout Newsletter, brought to you by The Final Round. Every other Tuesday, we send you insight to help you knock out the competition, advance past the final round interview, and grow in your career.
Thank you for joining us in the ring for our Valentine’s Day Edition. Let’s go.
What’s New?
Layoff Care Package
We’ve recently launched our Layoff Care Package, providing you with over 20 pages of free content to help you navigate the current state of layoffs and find a new role.
But what exactly does this guide include? How will it help you?
50+ pieces of career advice from Recruiters & Hiring Managers
The best free job-search tools including new AI tools
14-step Game Plan to help you secure offers
And more…
So what are you waiting for? Dive into the Layoff Care Package here, and let us know when you land that dream role post layoff.
10,000 YouTube Subscribers!
We hit 10,000 YouTube subscribers all thanks to YOUR unwavering support.
This journey has not been easy, but we could not be more thankful for you. If you are new to our channel, we post all types of engaging career content ranging from interviews with industry experts, on-the-street interviews asking strangers how much money they make and how many hours they work, takeaways from conversations with Recruiters, how to break into certain industries, and more.
Check out our YouTube Channel here
Relying on Loved Ones ❤️
Valentine’s Day reminds us of the importance of our loved ones. And we often forget how those most important to us could potentially help us in our careers. Maintining a solid work-life balance is critical. But you never know when you might need to lean on your loves ones to help grow in your career, especially around these trying times with many company layoffs. Don’t be afraid to chat about your career during the next time you are around loved ones.
Loved ones are an often disregarded tool when it comes to building your career. If they truly value your relationship, they would love to support you in any way they can—certainly including your career growth.
Highlight Quote - Episode 3
In Episode 3 of The Final Round Podcast, Marisa Jones discusses the importance of effectively using your network. Those who support you are going to want to see you excel, including in the career space. So don’t be afraid to ask family, friends, and partners for help throughout the process.
If you are needing help, assess your current network, and ask yourself who would be able to connect you with another person to continue the networking domino effect? Then put it into action!
You never know where one connection may lead…
Timely Action Items Post Layoffs
Taking the time to Rest, Reflect, & Regroup is essential if you are dealing with a layoff but there are a few tasks that are time sensitive that you definitely should complete ASAP.
This is a section taken from our Layoff Care Package - see full guide here
Apply for Unemployment
Read this how-to guide here
Understand & Negotiate Your Severance Package
Ask for Letter(s) of Recommendation
Ask your former team and manager/s for recommendations
Ask the people who know you best!
What, why, who, when, and how of LinkedIn Recommendations (here)
These can come in formally or via LinkedIn (tips here and how-to here)
You can even ask them to think of any other employees they may know and put you in contact with them
Subscribe for free to the “Knockout Newsletter” so you can get insight from Recruiters and Hiring Managers delivered straight to your inbox.
Add Your Name to various “Layoff Lists”
Building Job Security from Layoffs
Worried about #layoffs? Here's how to 𝗯𝘂𝗶𝗹𝗱 𝗷𝗼𝗯 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆...
We 𝗮𝘀𝗸𝗲𝗱 𝟮𝟳 Recruiters, Hiring Managers, Thought Leaders, and Career Coaches this exact question.
These leaders work at companies such as Amazon, Netflix, LinkedIn, EY, Google , and more, and cover just about every industry.
For example, Recruiter and former guest on The Final Round “Benjy Spiro” recommends to “become a subject matter expert in what you do, and be the person everyone turns to for what you know best. Be sure to create good internal and external relationships in the process”.
Business Buzz 🐝
📱 Twilio Layoffs
Tech layoffs continue, with the customer engagement platform Twilio recently announcing plans to cut roughly 1,500 of its workforce (or 17%). Having already laid off 11% of the workforce in September, CEO Jeff Lawson cited the need for reorganization. Twilio is forming two separate business units to help with this process: Twilio Data & Applications and Twilio Communications. “These changes hurt,” said Lawson. “The weeks ahead will be about processing all this change and working together to acclimate to our new structure.” Lawson is hopeful that these organizational changes will help the firm better execute its business strategy, something many tech companies have struggled with in recent months.
📈 A Job-Growth Explosion
The recent U.S. Jobs Report showed an increase of 517,000 jobs in January, absolutely crushing previous estimates of 187,000. Unemployment also fell from 3.6% to 3.4%, hitting its lowest point in 50 years. While tech certainly took a beating when it came to layoffs, other sectors boomed. Leisure and hospitality added the most jobs this month at 128,000, professional and business services took second with 82,000, followed by the government sector with 74,000 and health care with 58,000 jobs. Following the reports, markets slightly dropped; however, many consider this bit of information the best case possible. According to Dan North, senior economist at Allianz Trade North America, “when you look at this, it’s pretty hard to shoot any holes in this report.”
Full Job Recovery for Women 🏢
Though the Covid-19 Pandemic dis-proportionally affected women, the employment recovery rate for women has been nothing short of impressive. With more women losing their jobs during the pandemic as opposed to men, the labor force participation rate for prime-age women (aged 25-54) now exceeds 2019 levels, according to recent federal reports (76% in 2019 v. 77% in January 2023). Though occupational segregation still prevents growth opportunities and inhibits the recovery of some women, these numbers are signs of improvement. Yes, women’s employment statistics have reached pre-pandemic numbers. Nonetheless, there’s still a lot of work to be done.
Why It Matters
Layoffs are still going on, but that is mostly in the tech industry. Did you see that awesome jobs report? Many estimates were skeptical of the effects of inflation on job growth, but the statistics show that the economy is starting to rear back. Nonetheless, layoffs are going to continue, and despite such tremendous job growth, people will get the short end of the stick.
We hope our Layoff Care Package helps those who recently have been through a layoff, and please remember to share it with those who truly need it.
The Final Question
How are you going to rely on your loved ones to help your career?
Want to partner with The Final Round? Go here
Any feedback on our newsletter? Go here
Have a Career Question? Go here
Written by Bryan Hanley; Edited by AJ Eckstein