January marks the beginning of a new year and many new beginnings—but it also marks the beginning of a serious month of layoffs.

Amazon in the first week of January alone, VimeoSalesforce and the clothing retailer everlane Unveiled massive layoff plans. Salesforce CEO Marc Benioff in a letter to employees Told The company is cutting its workforce by 10%, explaining that it “has laid off a lot of people to cope with this economic downturn that we are facing.”

According to the Bureau of Labor Statistics, January has seen the most layoffs on average in the past 10 years statistics, Experts say the reason is largely calendar driven.

“We often see a lot of layoffs in January,” said Sarah Rodhorst, co-founder of Onwards HR, a company that helps businesses handle layoffs. “As they analyze their data from last year, what budget they’re going to pursue, they’re really planning strategies for the year, so there’s often a lot of reorganization, restructuring.”

Rodhorst said she sees an uptick in layoffs for the tech, health care, retail, banking and insurance industries in the new year. If a company hasn’t announced any in those areas, he said, “it’s likely that some planning is happening.”

Another reason could be that many bonuses are generally given in January as well.

“TeaThis is a time when you also give out bonuses, and so if you’re trying to be careful and not particularly ethical about who gets them and how much, some companies are willing to take advantage of this. And lay off eligible employees instead of giving them their bonuses, said Sandra Sucher, a professor of management at Harvard Business School who has researched layoffs.

If you’re worried about losing your job this month, it can send you into a cycle of panic and deep worry. Take a deep breath and plan accordingly. If you know or suspect a layoff is coming, here’s how to deal with it:

First, recognize that these intense feelings are completely normal.
Losing a job is one of the most psychologically stressful things we ever go through. One study 112 professionals were asked to do a retrospective checklist of their most stressful life events, and ranged from divorce to losing a job as head of household, hospitalization due to illness or injury, and the death of a close friend.

One thing that can help ease anxiety? Instead of worrying about whether you’ll be out of work at some uncertain date, focus on what you can control.

Your layoff decision may have been made weeks in advance, so Gregory Toll, a workshop facilitator who trains managers, doesn’t recommend “working your tail off” in an effort to be laid off.

If you’ve heard rumors about layoffs, Tolle recommends instead assuming you’ll be laid off and planning for that future. ,It is easier to stop all the preparations than to start all the preparations if you don’t,” he said.

Calculate your finances and document what you want to save for now. It’s time to calculate and save for your emergency fund. Tall said ask yourself, “Am I in trouble right away? Because if so, I still need to think about how to generate income.”

Rodhorst advised that any doctor visits you need to do now should be done while you’re still on your company’s health insurance.

And when you have a job, save client testimonials and evaluations of past performance that will help you in your future job search. If you think you might lose your job for discriminatory reasons, legal experts recommend documenting everything now so that if you are suddenly let go, you’ll be ready to take your evidence to a lawyer.

Reflect on what you are good at and what you want to be good at, Losing a job can also be a time to reset and make a career pivot. If you don’t know what you want to do next, Sucher recommends Take a week or two and note which company stories interest you, what industry they are in, and what it is about them that interests you.

And if your co-workers are trustworthy, try asking them about their strengths. when she was considering ACAfter moving from Fidelity Investments to Harvard Business School faculty, Sucher said he asked trusted colleagues, “What was I good at?” To gain insight that was useful and sometimes surprising.

This exercise can also give your confidence a much-needed boost.

“If you get shut down, it’s an attack on your ego,” Sucher said. “Why was I chosen when they weren’t?” are painful, no matter how quickly you find your next job. “The people who do best in recovering from a layoff are the people — and this is demonstrated by the research — who have a positive mindset and don’t blame themselves for the fact that they got laid off.”

See this as a job-hunting opportunity. Although January is a month of heavy layoffs, it is also a month where you are likely to find a new job. Rodhorst said this is the month where companies make the most new hires.

“A company that is laying off may be hiring in other areas as well,” she said. “This is the month with the highest level of change. On the hiring and firing side, as companies restructure their organization and plans for the future.

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