The news hit today that Sony Corp. is set to get rid of 10,000 workers in a major overhaul of the company, seeking to take it out of the red and into the black. Much of the employee scale-backs will come from Sony’s television business, according to reports, and roughly half of the job cuts will stem from recent deals, including the company’s sale of a chemicals company and the new joint operation with Hitachi and Toshiba.
With news like this comes that oh-so-familiar and scary feeling of: Is my job next? Here are three signs a layoff may be coming and how you can be prepared to quickly rebound. — Janell Hazelwood
Indicators of business vitality are looking weak.
Experts say this can be a tell-tale sign that a company is not doing well and may seek to cut back on employees. Stock prices may plummet, vendors might not be getting paid, or the caliber of clients may be diminishing. These are all things one can check into by getting insight from a stock broker or wealth manager, taking note of interoffice trends or paying close attention to the news.
If you’re not interested in moving on, now’s a better time than ever to be a high performer. It might be a good idea to strategize ways to improve or maximize your performance, and document your wins and losses. Find ways to exhibit problem-solving qualities and get on those key teams or projects that seek to turn company outlook around.
Trend of jobs (and departments) being outsourced is prevalent.
Reports indicate Sony’s planned layoffs won’t affect at least one nation’s consumer electronics labor force anytime soon: India. And many companies, especially in the IT, science and tech industries, are downsizing and outsourcing in efforts to cut costs and protect bottom lines. Whether a small business or a large one, if this is a prevalent trend, it might be time to look at your options. Experts say informational interview can be a great way to not only get your name at the forefront of future employers, but also get the ball rolling for interviewing and taking on new clients. Also volunteer opportunities can be perfect for getting job leads and knowing what opportunities to attack in case you have to move on.
Employee morale is low, from the top to the bottom.
Oftentimes, a company that is doing great has happy employees and is able to offer incentives to keep them that way. When the morale is poor from senior level to entry-level, that could be a red flag and a cue to start looking elsewhere for opportunities. Experts suggest finding things you are passionate about and matching those things with companies that embody them. Also, research other companies and the way they do business to see whether it aligns with your purpose and way of doing your job. It might be a good idea to fine tune your resume, update your
social media profiles, put your networking skills into overdrive and find ways of advertising your professional skills such as freelance or consulting work.