I know this is a wide topic. I’ve worked in IT and my dilemma is whether to apply at other automotive companies or is it a better decision to seek my fortunes in other businesses?
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I am recently (January) ex-GM IT and I found a great job with a company that is far removed from the automotive industry, although they are probably just as susceptible to downturns in the economy, as most jobs seem to be these days. My skills transferred very nicely, I found. I also discovered to my great pleasure that my new employer was absolutely willing to provide training to bring me up to the required level in areas where I had no experience; their hired me for what I know and can do, but are willing to invest in me for other things they need. A real win-win for us. I wish you the very best, but I'd say don't feel constrained to stay with the automotive industry.
Do you really want to put your eggs in the auto business basket? This GM decision is the beginning of the end for the company. The big money winners will say, well we tried and you didn't help us. Good bye, we got our big bucks in the bank.
Part of the severance package comes with a resource to help you find a job.
All I can say is start as soon as you can to look for work in any industry, why limit yourself to just automotive. From my experience especially within IT, it takes time to line up interviews and getting an offer in hand. The process normally is between 4-6 weeks from the time you interview and offer and that is if you even get the initial call. With so many people laid off, there will be more competition in all cities affected. Good Luck with your job search!
Your skills will be in demand in any industry that uses legacy and/or modern technology. So you should consider banking, insurance, software, beverage, university settings (not necessarily academia), defense, gov't....
You get my drift, I'm sure.
You shouldn't limit yourself to any one industry, especially a cyclic one. Or one location. Being a computer guy/gal is one of your strongest features for your life, because that is portable.