Resume Writers: Get Ready for the Biggest Corporate Layoff in U.S. History

I've seen this reported over the last few days from numerous sources -- IBM is poised for the biggest layoffs in company history. In fact, some are saying this will be a record-setting layoff among all U.S. corporations. IBM is expected to lay off more than 110,000 employees (or about 1/4 of its workforce):
http://www.itworld.com/article/2875112/ibm-is-about-to-get-hit-with-a-massive-reorg-and-layoffs.html

While many of these folks will be directed to company-paid outplacement firms, others will no doubt be seeking out the services of professional resume writers. (And, as the article surmises, even those who aren't laid off are likely to update their resumes and LinkedIn profiles in case this round isn't the last.) These aren't just IT professionals -- there will be folks in administration, marketing, operations, customer service, and finance too.

You may be contacted by media in your area looking to "localize" this issue, especially if there are IBM offices in nearby. (Google "IBM" and your city name and see if there is an office in your area. We have one in Omaha, for example.)

OR, if you are looking to generate media coverage for your resume writing services, today would be a great day to reach out to your nearby news media (especially TV) and offer yourself as a source to interview about what to do when you're laid off.

For example, you could call one of your local TV stations and ask for the assignment editor. Ask if they are planning on doing a local story on the impact of IBM's layoffs, expected to be the largest corporate layoff in U.S. history. Introduce yourself: "I'm (name), of (company name). I am reaching out to you to offer information and resources to help those among your (viewers/readers) who will be laid off, and their families. I can share information and advice that will help these folks, and it's applicable to any of your audience who have recently been laid off or fired."

If you are interested in reaching out to the media, I'm offering my teleseminar recording and transcript of "Feed the Media: How to Get Free Publicity for Your Resume Business" for free download until Feb. 1, 2015. It will help you prepare to be a media source. Click here to download it.

Want some resources to help clients if they are fired or laid off? Check out this Pass-Along Materials package: So You Got Fired! (Or You Think You're About to Get Fired)

Advice for Clients: Before the Layoff

With the recent uncertainty in the mortgage industry, you're likely to have some clients -- or prospective clients -- facing layoffs. Here's some tims for your client newsletter or for a news release

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The time to prepare for a layoff is before it happens. It is important to be prepared in case you're laid off. Consider doing the following:

Review Your Severance Package. Make sure you understand if or how long your health insurance will continue if you're laid off. Think about "selling back" any extra vacation or sick days you have to the company in exchange for pay.

Roll Over Your 401k Into an IRA. Unless you have no other option, don't liquidate your retirement account if you're laid off. You'll have to pay taxes on whatever you take out, plus possibly a 10 percent withdrawal penalty fee -- and the lost value of that money can never be replaced.

Raise Your Deductibles On Your Insurance Policies. That way, you can lower premiums. However, even if you're out of work, don't cancel any policy in an attempt to save money.

Keep Your Resume Updated. If you are laid off, you'll have to move fast. Make sure your resume is up to date at all times.

The Best Time to Look For Work is When You Have Job. Don't wait for the ax to fall. Start looking for another job now. A job search takes time, and the earlier you get started (particularly if "the writing is on the wall," so to speak, about your company's future), the better off you'll be.

Consider Temp Work. There is a big market for part-time, temporary and free-lance work in almost every job market. These kinds of assignments will put quick cash in your pockets while you look for something more permanent.