Been hearing these layoff stories from everywhere. What are pros (if any) and cons of getting laid-off? I understand the financial aspect, but overall wont it force you to find a better option?
Was laid off. Got 13 offers. Almost tripled my TC. It's a blessing in disguise. On h1b Stay calm, be positive and humble. Good things will make your way.
I imagine it forces you to wake up and get a better job because you were probably too scared to leave.
When I was laid off, the first thing I did was travel and self reflection. Figured out what long term would make me the happiest. Spent three months tweaking my resume and relearning all of my initial college coursework around algorithms and data structures. Spent a good deal of time building up my LinkedIn profile and career network as well. Was able to reluctantly apply at first company that came knocking, landed the job on the first attempt, more than doubled my original salary, tripled my stock holdings, etc. I'm now in a much more critical position and am making a significant impact, compared to my prior company/role. In the end, if you ride the wave, it works out typically in your favor.
How old was everyone when they got laid off?
My first lay-off was at 26. Second one at 27.
Ouch
On Monday morning, showed up to work, boss was 3 hours late. He came in and said we need to talk. Told me I was being let go and that was it. Had just moved to bay area 3 months ago, salary was so shit that I was struggling to pay my bills each month. Company never reimbursed me for expenses that they said they would. In general a toxic management and sorry excuse of a tech company. Fast forward just under 2 months later had multiple offers, including amazon and microsoft. The worst offer I got was still a 50% bump in TC. So yes, being let go is scary but can lead to better things. Just stay calm and get ready for interviews. I was not asked about why I'm not working by any recruiter.
Everyone I knew that got laid off, made a ton of money that year. Pay out from the original company, got new offer with higher TC ... $$$.
Better opportunities internally as unique needs arise for folks remaining.
Pros : You will start doing leetcode Cons : You will have to start doing leetcode 😢
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I was laid off. My son required a surgery. Since I lost insurance and pay, I qualified for Medicaid. Now, all of my bills are covered (40k) Being laid off gave me more money than I would have made working AND now I start a better job.
#survivorbias
Great for you. You should thank God for the blessing.