A groundswell of mass layoffs has knocked out several US companies at the end of 2022 and appears to persist into 2023 making it tough for corporate employees. The latest is Walt Disney which is in its second round of layoffs affecting thousands of positions across its TV, film, and theme park divisions.
The second phase of the three-round job cut is expected to eliminate 4,000 workers from its entertainment unit, theme parks, and experiences and product divisions.
Walt Disney is the newest to join the fray of laying off workers in droves. Some huge names in the business world also laid off employees in big numbers.
Meta (Facebook) layoffs took place on April 19th, affecting employees across multiple different platforms including Facebook, Instagram, and WhatsApp.
The latest round of layoffs is an attempt to support Meta CEO, Mark Zuckerberg’s proposed, “Year of Efficiency” slated to close out around 5,000 job listings.
Then there was Google which laid off 12,000 employees who account for roughly 6% of the global workforce.
Microsoft eliminated 10,000 jobs through the end of March 2023.
Near the end of 2022, Twitter laid off 3,700 employees — nearly half of its global employees.
Last March 20, Amazon had another round of substantial layoffs, with 9,000 people losing their jobs.
Hope For Corporate Employees
These days are challenging times for everyone, most especially corporate workers. With the COVID-19 pandemic effects still impacting millions, the war in Ukraine, and the oil production cuts which have skyrocketed consumer prices — mass layoffs added to the already burgeoning burden of people.
Yet, there’s hope for corporate employees. There are several steps that people –whether employed or laid off — can take to gear themselves up for what’s next.
Update resume and LinkedIn profile
Take the time to update your resume and LinkedIn profile and highlight your skills and achievements. See to it that the most relevant experiences have been emphasized and that your resume has been tailored to each job being applied for.
Interruptions (such as being laid off) or any downtime must be taken advantage of to learn new skills or earn additional certifications. This will improve your marketability and increase your chances of finding a new job.
Consider freelancing or consulting
Freelancing or consulting can be a great way to earn income while searching for a full-time job. You will gain new skills, at the same time, an excellent opportunity to build your network.
Reach out to people, including former colleagues, classmates, and industry contacts. Let them know that you’re on the job market and ask if they know of any openings. Attend industry events and join professional associations to expand your network further.
Reach out to new horizons
Consider new industries or roles that you may not have considered before. This can help you broaden your job search and increase your chances of finding a new position.
Overall, it’s crucial to stay positive and optimistic during these challenging times. With these steps, you can position yourself for success and find new opportunities for a much happier and more financially-rewarding life.
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