Severe Job Cuts Loom in 2008

Career Protection, an agency that offers employees counseling on negotiating better benefits, severance pay, and retirement packages, has released its Annual Layoffs Forecast for 2008, and it ain't pretty.

Over 1,375 corporate executives nationwide completed the confidential annual survey regarding workforce reduction plans (Survey conducted January 2-25, 2008).  And the results yielded a 37% increase in companies planning layoffs and reductions in their workforce this year - the  worst such forecast in five years.

With the economy on the verge of a recession, if it isn't already there, grim layoff news is not a surprise. However, now is an excellent time to remind you that in some cases, severance packages are negotiable.  Upon accepting one, a company will expect you to sign a General Release of Legal Claims in exchange for the package, this is your leverage.  

While we've never personally used Career Protection or similar services, with the job market in a state of flux, now is as good a time as any to learn about negotiating a fair severance package.

I've always left gigs on my own accord.  Let's hope it stays that way.

Comments

[Duane]

I was laid off once, back in 2002. It was a respectable way to go, after the dotcoms had crashed. My boss had long ago called me aside and said "You'll be the last one to go." And he was right, I was.

I wrote an ebook on the subject called Survive the Layoff. I've had two publishers fail on me, so it sits on a shelf. One of these days I've gotta just put the thing up on Scribd or something and see if anybody wants it.

Duane
http://www.commutesmarter.com

[Turner of Ike]

You don't need anyone to negotiate on your behalf. I'm going to go out on a limb and guess that if you are getting a pink slip, you won't be in a financial situation to pay someone to get you "more" money.