Careers

Job-Loss Survival Guide

Whether you've already lost your job or are waiting for the ax to fall, we have the advice you need to recover.

January 29, 2009

The news hasn't been pretty. This week alone, several big employers have slashed thousands of jobs from their payrolls, including IBM, Home Depot, Caterpillar, Sprint and Texas Instruments. And that's on the tail of months of other cuts at such stalwarts as Citigroup, Pfizer and General Electric.

In fact, the Bureau of Labor Statistics reported Wednesday that in the month of December, 226,000 U.S. workers lost their jobs in mass layoffs, pushing the unemployment rate to 7.2%. And since the rececssion began, the economy has shed 2.6 million jobs.

If your employment has been affected by this spate of bad news -- or if you fear it could -- we have the advice you need to make it through. Below, you'll find our best tips for handling a job loss (or trying to prevent one), finding a new job or even changing careers.

THE FINANCIAL IMPACT
A job loss can upend your finances. Here's what you need to know about crafting a plan for immediate survival.

Life After a Layoff
How to prepare for the worst and make a quick recovery.

Keeping Health Coverage After a Job Loss
A federal program lets you stay on your employer's insurance plan, but you might be able to find a better deal on your own.

What Happens If Your Employer Goes Broke?
You might still get health and retirement benefits depending on the type of bankruptcy protection for which it files.

A Career Survival Kit
How to protect your job -- or find a new one -- in a scary economy.

FINDING A NEW JOB
Time to pound the pavement? Update your résumé and craft a strategy to land your next position.

Polish Your Résumé
It may be time to give your résumé a major makeover -- you'll want to be prepared in case you're suddenly laid off.

Tax Breaks for Job Hunters
Your guide to deducting some of the costs of finding new employment.

Undercover Job Hunting
Ready to move on? Follow these 12 dos and don'ts for job searching discreetly when you're employed.

QUIZ: How Sharp Are Your Job-Hunting Skills?
Do you know how to boost your odds of getting the position you want for the pay you want? Test your knowledge of job searching, interviewing and salary negotiating.

CHANGING CAREERS
Here's a way to make lemonade out of lemons: Use your layoff as an opportunity to switch careers. You can pursue your dream job or simply pursue a career less prone to economic forces.

Recession-Proof Careers
These six fields offer job stability in any economy. Plus, learn how to recession-proof your career, whatever your industry.

13 Hot Jobs in Hard Times
When the going gets tough, these careers get going.

Pursue Your Dream Job
Take our online self-assessment to see if you're ready for a career change, then get financial advice and tips for a smooth transition.

Starting Your Own Business
To succeed, rely on your experience and long-established contacts.