Layoff – Things to do

 

Layoff Tips and Negotiation Guide

Layoff is always part of corporate job life. It’s crucial to be prepared for it. The first layoff can be tough – I still recall mine in 2015 in the Norway Oil crisis, feeling lost and unsure how to react as a young adult. Based on my experience, I’ve gathered valuable insights that I hope can assist others going through this.

Remember, you are not being fired; you have been made redundant – there’s a difference!

Negotiation skills play a key role. Approach negotiations smoothly and maintain professionalism.

Before you sign the document, take a moment to think whether the company has followed all procedures as mentioned in the collective agreement, if not, you have an advantage to negotiate.

  • You dont need to sign the termination letter when you first see especially with the meeting with Manager. 
  • Everything shall be in Written. 
  • Ask for time to review and also time for unions discussion before signing the document. 
  • Read the terms and conditions on Termination agreement , if something is unwanted you can ask them to remove it.
  • You can share these termination agreement with Unions.
  • This is a NEGOTIATION. Remember this. So be a tough negotiator. 
  • If you are on Work Permit, ask for an extended notice period and be on company payroll, instead of a lump sum. That way you buy yourself valuable time for finding a new job

 


 NOTE: Number of months of notice depends on your Job contract and collective agreement the company has signed.

Annamalai Ramanathan | Financial Educator

I create awareness on personal finance topics to European Indian NRI and Swedish expats by empowering them to have control over their finances and a fulfilling life with happier relationship with money

JOIN THE NEWSLETTER

Stay in touch with us.