With the downturn of the economy and recent flurry of layoff stories in the news, one can’t help but wonder, “Am I next?” Very few receive fair warning of an impending doom and even if you do this is tough news to swallow. While there are some obvious signs that a staff reduction is forthcoming, like boxes in the hallway or the CEO gets escorted out the door, there are other tell-tale signs that are a bit more subtle.If your company gets acquired, most likely the result is that some employees are going to be eliminated due to redundancy. Take note if other employees have similar jobs as you. If so, do your best to integrate with the new culture and learn how to do other functions fast.
Plummeting stock prices can also trigger corporate downsizing. Today’s market is fickle, but it is nonetheless a good indicator of a company's financial health and future well-being. Financially unstable companies can eventually go under or get acquired by stronger competitors.
If your job functions are suddenly minimized it may be a sign that your worth to the company has been devalued. For example, if you went from handling your company's biggest Fortune 500 accounts to doing data entry and menial tasks, your position may not be as vital to the company’s future.
An extreme measure to retain staff during challenging times is to ask an employee to take a pay cut. Naturally, most people raise serious objections, but for some this can be a last ditch effort before reducing headcount. If you are able to stick it out, there is the possibility the company’s stability and your salary will rebound.
Of course, there's always the chance that you hate your current position and are actually looking forward to a severance package. I’ve been laid of twice, and in hindsight, there can be some positives. So if the ax happens to fall on your desk, take a deep breath, smile and relax. There are thousands of others in your shoes and this time away from the daily grind can be a valuable learning and soul-searching experience. Keep your head up, maintain your tech-savvy and stay connected!


