They Got Me This Time!!!!

**Marker** · 03-13-2009, 01:03 PM

Couldn't dodge the bullet forever I guess. They got me this time Severance until November, hopefully I'll find something by then.

**merlinmagic4** · 03-13-2009, 01:24 PM

Oh, wow. That stinks. I am so sorry. 8 months severance is pretty good, though. Maybe you'll find something right away and you can use the severance package for a trip to Disney

Good luck to you.

**faline** · 03-13-2009, 01:26 PM

I'm sorry. Best of luck in your job search!

**murphy1** · 03-13-2009, 01:26 PM

Oh, no, Marker! I know you were kind of always waiting for the hammer to drop, but that stinks. I just feel for so many right now, it's tough out there. Hope you find another one soon

**Jeff** · 03-13-2009, 01:30 PM

Tough break Marker.
I hope you find something soon.

**laprana** · 03-13-2009, 01:30 PM

I'm so sorry, Marker! Sending some

your way so that you find something very soon!

**WishingStar2006** · 03-13-2009, 03:27 PM

So sorry to hear you news!!! Best of luck in your job search...I hope you find something even better than you had before!!!

**PirateLover** · 03-13-2009, 04:31 PM

Sorry Marker. I know you've been bracing yourself for this and that you already made it through a few rounds of layoffs. Hopefully you've been networking and keeping your eyes out for another job. Best of luck to you.

**crazypoohbear** · 03-13-2009, 06:11 PM

I'm really sorry to hear that. I hope you are able to find something quickly.
Keeping fingers crossed for you.
It's really tough out there right now

**Patricia** · 03-13-2009, 07:08 PM

Sorry to hear that Marker.

I wish you the best of luck in your job search.

**RedSoxFan** · 03-13-2009, 08:17 PM

Sorry to hear Marker. I hope you find something soon. Good Luck.

**PhilHarHarMagic** · 03-13-2009, 10:55 PM

Best of luck from here, too!

**adoptionislove** · 03-13-2009, 11:59 PM

Oh that is a big bummer! Thank god for severence packages! Good luck in your new job search!

**badkitty** · 03-14-2009, 12:48 AM

Ugh, so sorry. I hope you find something soon!

**Mousefever** · 03-14-2009, 01:31 AM

I'm so sorry about the layoff, Marker. Many wishes that you will find a great job by November. Keep us updated.

Amy

**Melanie** · 03-14-2009, 03:08 AM

I'm very sorry to hear that Marker.

**vizsla** · 03-14-2009, 08:21 AM

So Sorry. Good luck on your job search.

**Ian** · 03-14-2009, 08:45 AM

Sorry, Marker. As you may or may not remember, I went through a very similar experience to yours with my last company (a company who's name may or may not have started with a "GM" and ended with an "AC"). Round after round after round of layoffs and I kept skating through, until ... I didn't ...

It's very painful, but you are very fortunate to have received 8 months worth of severance. I had been with my previous company for 6 years and I received about 3 months severance, so your package is very generous.

My advice is, first and foremost, go apply for unemployment immediately. You've been paying into it. It's yours. Collect it while you can.

Secondly, if you really think you may be out of work for the long term, start looking now for ways to trim expenses. Maybe cut back on the cable T.V. or downgrade your cell plan or things like that.

Also, if your severance is paid out in a lump sum, make sure you take into account that they're going to tax the bejeesus out of it. Your 8 months severance will turn into 5 months faster than you can say "Uncle Sam." Plan accordingly and, if it's going to be a large amount of cash you're getting, you should probably talk to a financial advisor to see how best to stretch it out.

Don't just dump it in your checking account ... at a minimum put it in a high interest savings account (maybe with ING or someone like that) and then "pay" yourself from that account every two weeks. It helps enforce fiscal responsibility.

Lastly, do not wait to get going on the job search. I think sometimes the tendancy is to think about "taking some time off", but in this market that's the kiss of death. Realistically speaking, even if you are very lucky, it's going to take you 3 or 4 months to find work. The longer you put it off, the longer it's going to take and the more of your severance you're going to burn through.

Best case for you is you could walk away pocketing a nice chunk of change if you can get back to work quickly. That's the one silver lining to what is otherwise a very dark cloud.

If there's anything I can do to help, just PM me. Sadly, I have more experience with this kind of thing than I'd like to admit.

**Nascfan** · 03-14-2009, 09:11 AM

Aw, I'm sorry Marker. I've been following your story with each post of rounds of layoffs and I was hoping you'd make it through. Still though, your severance will help, and I'm confident you'll find something soon. Good luck to you!

**DisneyWhirled** · 03-14-2009, 12:05 PM

Marker, I'm sorry about your job. I wish you the best. I know 8 months isn't a lot, but I have to tell you that the company I work for is closing June 1 and I have been with them almost 7 years and am only getting 8 WEEKS. Further, people who have been there for only a year are getting the SAME THING. And I am a manager.

Originally Posted by Ian

My advice is, first and foremost, go apply for unemployment immediately. You've been paying into it. It's yours. Collect it while you can.

Secondly, if you really think you may be out of work for the long term, start looking now for ways to trim expenses. Maybe cut back on the cable T.V. or downgrade your cell plan or things like that.

Also, if your severance is paid out in a lump sum, make sure you take into account that they're going to tax the bejeesus out of it. Your 8 months severance will turn into 5 months faster than you can say "Uncle Sam." Plan accordingly and, if it's going to be a large amount of cash you're getting, you should probably talk to a financial advisor to see how best to stretch it out.

Don't just dump it in your checking account ... at a minimum put it in a high interest savings account (maybe with ING or someone like that) and then "pay" yourself from that account every two weeks. It helps enforce fiscal responsibility.

Lastly, do not wait to get going on the job search. I think sometimes the tendancy is to think about "taking some time off", but in this market that's the kiss of death. Realistically speaking, even if you are very lucky, it's going to take you 3 or 4 months to find work. The longer you put it off, the longer it's going to take and the more of your severance you're going to burn through.

Best case for you is you could walk away pocketing a nice chunk of change if you can get back to work quickly. That's the one silver lining to what is otherwise a very dark cloud.

If there's anything I can do to help, just PM me. Sadly, I have more experience with this kind of thing than I'd like to admit.

Ian-thanks for posting this. My company is paying us in a lump sum

. This enables them not to have to pay our insurance during the severance period (there will be some Cobra subsidy) and I have not experienced this type of severance before.

(Un)lucky for me, the last company that laid me off, paid us for 10 week severance, over the 10 week period, so it was much easier to budget.

I had an interview with the company that is taking over the work this past week, and if I get the job, I don't get the severance package, but I tell you, I'd rather have the job!!

Thanks again!!

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