Twitter recently laid off around half their staff and a Meta layoff spree left 11,000 people unemployed. What are the options for these employees and what should you do when you’re laid off?

The immediate aftermath of your layoff

The first thing you should do after being laid off is to apply for unemployment. The process is relatively easy and can be done online. It should add an income buffer while you’re finding a new job. 

The next thing you should do is figure out how what safety nets you may lose due to them being tied to your employer. Your health insurance may be affected by losing your job. If your health insurance was tied to your employer, you may be eligible for COBRA, which allows you to keep the insurance for a certain period. Your retirement savings may also be tied to your employer. You have the option to cash these savings out or roll them over to an IRA. 

Know your rights

Some laws will protect you as an employee. First,  the WARN act that specifically protects employees in big companies. This federal law requires employers to give employees a 60-day warning about mass layoffs. If an employer violates the WARN act, they can be required to pay 60 days of pay and benefits to the employee. 

While no federal laws require employers to offer severance, many do in exchange for an employee not bringing a lawsuit against them. If you accept a severance package, it may change if you get a new job. Learn more about your rights surrounding severance here.

Finding another job

The good news for employees of companies like Meta and Twitter is that tech is an industry where growth is always accessible. Employees laid off from these companies will have more than enough opportunities in the industry. Still, this process can be long and time-consuming. Because of this, it’s great to have a hiring company that can help you find another job. 

Having a company like Twitter or Meta on your resume can be extremely beneficial, so that’s one piece of good news to take away from the experience. Plus, while the technology industry is making the headlines for mass layoffs currently, there are actually many jobs available. The bigger companies have stated clearly that rapid growth caused these layoffs, so smaller companies are looking a little safer. Tech One IT is helping many tech companies through manageable growth. These companies are not as tied to consumers as Facebook or Twitter wither. 

Visit ​​https://techoneit.com/careers/ to learn more about how we can help get your career back on track.