Mar 31, 2009 10:45 pm US/Eastern
5 Signs Of Layoffs To Watch Out For
BOSTON (WBZ) ―
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News of massive layoffs all over the country and in most industries is all around us. So how do you know if layoffs are coming for you?
WBZ
You can't turn on the TV or open a newspaper these days without being bombarded with stories of companies cutting workers, in many cases thousands of them.
Job centers are crowded with laid-off workers, all hoping to find a lead. We ran into one man who recently lost his job.
"I used to be in finance," he said. "But they executed me."
Even though the banking industry has taken a huge hit in this recession, the worker said there was no warning. "It was a surprise," he said.
Career management expert Louise Kursmark says if you pay attention, there shouldn't be any surprises. There are a few clear signs that trouble lies ahead.
Layoff Sign #1: Cost Cutting
Kursmark said just about every company is looking for ways to trim expenses these days, but some cuts could signal trouble.
"Are pennies being pinched in all kinds of new ways?" Kursmark said.
That could mean major expenses like a hiring freeze or a slashed travel budget, or it could be as simple as office supplies running low.
Layoff sign #2: The Rumor Mill
If you don't want to be caught off guard, don't ignore what's being said around your office.
"Gossip is usually true, or often true," Kursmark said.
Layoff Sign #3: Struggling Industry
If you have friends or former colleagues in the same business and their companies are cutting back, chances are your company will have to do the same.
Layoff Sign #4: Your Job Duties Change
If you're answering the phone instead of going to that strategic planning meeting, or if you are being asked to retrain other workers, you could be in trouble.
Layoff Sign #5: Company Finances
How your company is performing can be a leading indicator.
"How is its stock price? Do you know that big sales are coming in, or have they lost big customers?" Kursmark asked.
If you look at this list and you've answered yes to several of these questions, then what do you do? Kursmark said don't be afraid to work on building a stronger relationship with your boss.
"I don't consider this sucking up," she said. "I consider that to be a valuable part of any life, on the job or at home."
Whether you're a mechanic or in management, Kursmark says it's important to be the best at what ever it is that you do and make sure people outside your company know it.
"That means thinking about what professional associations I can belong to. Where can I meet people in my field?" Kursmark said that way, if you do get laid off, you'll be one step ahead of everyone else.
"The more expert you are, the less you have to look for work and the more they will come looking for you," she said.
That's a lot easier than sending out blind resumes at a time when eight people are vying for every open job in Massachusetts.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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