Fidelity Adds to Financial Sector Layoffs

Fidelity Investments, in keeping true to their layoff plan announced last year, has decided to cut an additional 1,300 jobs after their initial 3,000 job cut world wild last November, according to Reuters. These job losses add thousands more to an ever-growing list of unemployed people in the financial sector. Estimates vary greatly on how many jobs will actually be lost while the United States and the rest of the world is in economic recession, but there are some pre-cautions one can take to prepare for hard times.

With a cloud of economic uncertainty looming over the heads of many people in the United States and beyond, there are still options for people who find themselves out of work or facing cutbacks in their jobs. Much of the bad news that is coming from the media is simply beyond the average person's control and therefore should not be pondered on too seriously.

If you or a loved one should find yourself on the wrong end of a layoff or job cutback, here are three simple steps to help keep your time unemployed to a minimum:

* Spruce up your resume. Many people do not keep their resumes updated and relevant while enjoying steady employment. There is no reason not to keep an updated resume handy just incase the unspeakable happens and you get laid off. Although it isn't advisable to keep your job search profile and resume active while you're happily employed, definitely re-activate all of your job site profiles once you're back on the prowl for a new job.

* Network until you are blue in the face. The unemployment rates are at an all time high and you will likely find many an open ear on internet forums and at social events. There are even "pink slip parties" exclusively for recently laid off people and recruiters. Even if you are networking with another un-employed person, they may hear about a job that they're not qualified for, but you are. Let everyone know loud and clear that you're looking for work.

* Get creative and resourceful in generating income. Getting laid off can be stressful and even traumatic. But, there's a good chance that you're a perfectly good worker with very valuable skills that people still need access to. Considering starting your own business or consultancy isn't such a bad idea in a down economy. Many believe that contractors will flourish in a recession because they are over-all cheaper to employ and can be used on an as-needed basis.

Nobody likes the idea of losing a job, especially one that was relatively well paid and had lots of "secure" benefits, like many laid off from Fidelity did. But, once you find yourself out the door, don't look back and don't look inwards with self-remorse or pity. The time to be strong, creative and forward thinking is now!

Source: http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0351286020090203