Do you plan to jump right into the job market or are you going to take some time for yourself?
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I already had an offer from a competitor when I got laid off. I started the day after my 60 day notice ended. Got large severance and sign on bonus. I was at Wells 20 years. I am going to invest my windfall rather than spend it.
I took my severance and then collected unemployment for a couple of months. Got a good taste of what retirement will be like and I'm ready! Found a better job all the way around and start after the holiday. I'll finish my career there.
I will only take maybe 1 month off and then hunt for job in hopes of landing one quickly, getting the bulk salary continuation payout to put in the bank.
@ehy. Chase playbook. They did it eventually so look for it in the near future, right before another large wave.
Been there, done that, didn’t even get a damn t-shirt.
If/when the layoff arrives I will take at least 2-4 weeks to decompress and celebrate.
Then I will search for any job that can help me sock away some additional funds for a year until my severance runs out. By then the hope is to have enough I can live off dividends and never be a corporate slave again.
I have plans for each scenario since the day I started dreaming about retiring was the day I started working here over 2 decades ago.
I always start as soon as I feel like the ax is going to fall my way. How soon I find something is a different story.
YES - at least half of my severance time will be spent having fun, not looking for a new job
Yes, a week at least
Be really disciplined and work smart at your job search, and you’ll still have down time to take advantage of your freedom too. I set aside x number of hours four days per week and had a hefty to-do list. Once I crossed off my last task I felt ok about stepping away.
Nobody can job search 40 hours per week — it’s too draining. Plus nobody at WF actually works 40+ hours. When you subtract useless meetings, town halls, compliance training etc… at best you work 30. Spend that much time truly job searching and networking every week, and you are a rock star.
I’m over 50 and it took me longer than I’d hoped to find my role but like another response said… I walked away when the pay or role were wrong. I wanted that luxury so very glad I didn’t take a big chunk of time off, or fly to Europe.
My objective would be to start working elsewhere the day after my notification period ends. Whether that happens or not depends on how the job search goes.
I’m fortunate enough that with severance I can go close to a year without a job before I have to start drawing from savings, but I plan to start job hunting right away. As the previous poster said, you don’t know how long it will take, especially when you’re over 50 like I am. Plus, I’d like the freedom to decline an offer if it’s not the right fit rather than having to jump at the first offer out of desperation.
If you are laid off, best to hit the ground running and look right away. You never know how long it will take to get the next gig, especially if a lot of folks have been laid off like in CLT recently. Don’t fool yourself and be complacent. Take it from someone who has been through it before.
I was going to wait around for a severance as I've been at WF long enough to get a year's worth, but, decided to start posting externally instead. I know that when I dread coming to work more than I enjoy my work, it's time to move on. This time it will be external as I'm 200 miles to the closest hub so I can't post internally.
I'm taking the rest of my life off. I just can't see the point in all this nonsense anymore.