Job Elimination - What to do??

[CTguy]

In a few short weeks I will be out of a job due to a job elimination. Although I am dissapointed because I enjoyed my job, in some ways I'm kind of looking forward to the time off. I am 50 years old and with 20+ years with my company will be getting a nice severance, collecting unemployment and also have a small part time job lined up so from a financial perspective I should be okay. Right now I am thinking of just enjoying my time off for about 9 to 12 months and not jump back into the corporate world immediately.

I'm sure others have been in this situation? What did you do? Any advice you can offer? How did you spend your time off? Would you not recommend taking the time off?

[marcanthony]

I'm sure others have been in this situation? What did you do? Any advice you can offer? How did you spend your time off? Would you not recommend taking the time off?

I would say that since you are confident you are ok financially, I would definitely encourage taking at least some time off.

You can use that time to:

1) Visit one place you have always dreamed but never went.

2) Start one hobby/diversion that you always wanted to try but never did

3) Leisurely consider what your next "career" will entail and whether you want it to be in the same location that you live now (i.e. will you choose where you will live and find a job so that you can live there, or will you find the job of your dream and move to the place where that job exists).

Good luck!

[Guest CharliePS]

You are only 50, so unless that severance package is pretty remarkable, I wouldn't stay out of the job market very long; it's not easy getting a good job these days when you are middle-aged, unless you have some very special marketable skill. You might spend the time researching a career change, and getting the necessary new skills. You should also get a good health insurance plan, if you don't already have one. Try to avoid tapping into your retirement funds for living expenses. Finally, don't use up that unemployment insurance unless you absolutely have to--you may need it if re-entry isn't as simple as you hope. Take a month or two off to just relax, but not 9 to 12 months.

[OneFinger]

You are only 50, so unless that severance package is pretty remarkable, I wouldn't stay out of the job market very long; it's not easy getting a good job these days when you are middle-aged, unless you have some very special marketable skill. You might spend the time researching a career change, and getting the necessary new skills. You should also get a good health insurance plan, if you don't already have one. Try to avoid tapping into your retirement funds for living expenses. Finally, don't use up that unemployment insurance unless you absolutely have to--you may need it if re-entry isn't as simple as you hope. Take a month or two off to just relax, but not 9 to 12 months.

Ditto Charlie's fantastic post. It could take you at least 6-9 months to find another job and that would only be complicated by an extended period of no job.

When I interview prospective employees I ask them to explain any non-working periods. I have yet to hire anyone that took some intentional time off between jobs. I've hired many people that took a meaningless job flipping burgers while searching for a "real" job. That screams to me of a motivated person that would appreciate and make the most out of my job offer.

[Guest zipperzone]

When I interview prospective employees I ask them to explain any non-working periods. I have yet to hire anyone that took some intentional time off between jobs. I've hired many people that took a meaningless job flipping burgers while searching for a "real" job. That screams to me of a motivated person that would appreciate and make the most out of my job offer.

I have to disagree with your points. If someone has worked at a job for 20 years without interruption and suddenly finds himself without a job due to circumstances beyond his control, I see nothing wrong with taking a year's sabbatical. I assume he has been financially prudent and can afford to. He's 50 years of age - why wait until he's "over the hill" before enjoying some of life's rewards.

You imply that a person who took a meaningless job "flipping burgers" screams "motivated". Did it ever occur to you that maybe it just screams "desperate" and that this may be because he has not been financially responsible over the years. I'd much prefer to hire someone who is independent enough to pick & choose his future career & employer than one who will grasp at straws and take anything.

I feel fortunate that I've never had to attend a job interview where the employer has such a narrow viewpoint.

[TotallyOz]

I don't hire people based on interviews so I have never had to deal with these types of situations. But, as someone who has taken a 20 year leave from "real" work, I hope that should I return that I'll be employable.

I also think that after working so many years that a long holiday is in order. It was not even be an issue in Europe as they get long vacations every year. My stepfather use to get 10 weeks paid ever 5 years. He loved it. We hated it. But, taking 6 months off after working for years may be a great eye opener. Smell the roses and enjoy your time but keep abreast of all the postings and opportunities should something wander your way. IMHO

[OneFinger]

...I feel fortunate that I've never had to attend a job interview where the employer has such a narrow viewpoint.

I'm equally grateful you've never worked for me. I doubt you'd meet my expectations.

[Guest zipperzone]

I'm equally grateful you've never worked for me. I doubt you'd meet my expectations.

You're quite right - I'd never meet your expectations - but then again, who'd want to?

Tunnel vision employers are so yesterday!

[RA1]

The posters have given advice geared mostly to their individual personalities. Here is one more.

Because you enjoyed your job I think it likely you will soon be bored with not working. You are not traditionally old enough to quit or to want to quit working. If you can substitute something else for working, why not make it profitable as well?

Personally, I have no thought of retiring, I could not enjoy not working. But, I enjoy my job as you stated that you did. As time has passed, I seldom work 7 days a week any longer/364 days a year. Christmas Day is the only day I have never worked and/or been out of the country.

I am not suggesting that you or anyone else do the same. As initially stated, these posts are mainly personal situations.

Good luck.

Best regards,

RA1

[JKane]

I work in entertainment so I end up on hiatus or between projects fairly often...

I'd suggest a hybrid approach that combines several ideas above. With the job market being what it is, you should decide what job you really want and where you'd like to live then start looking (and visiting the area you'd like to live if it's not where you are now). NOT applying for everything but be sure that you'd be aware if your dream job opened up. Also, networking. Whatever contacts you have anywhere near what you'd like to do, let them know you're available and interested if they hear anything. Get your resume in order and maybe go on a test interview or two just so you know what to expect and see how hard it is (or isn't) to get interviews. If a job you're indifferent about makes you an offer then have your rate be something that would make up for not getting the time off! It is much better to job search from a position of power than from one of desperation later on.

But don't be a slave to the job hunt, and don't apply for unemployment right away. Save unemployment for if you need it, technically you're supposed to be looking and available for work. Your severance package would screw it up anyway and once you're on it you have to respond weekly to get their pittance. You'd rather be free and able to travel!

You should look into how little unemployment is and for how short a period (pretty sure you don't get 99 weeks if you start now, for example) now though, so you're not surprised.

Get a passport now if you don't have one. Look at flyertalk.com and take advantage of whatever deals you can (I've recently gotten 150k AA miles from two credit card applications!), especially if you still have some time at work before the event to line stuff up. If your dream job isn't knocking as soon as you're officially out then have some fun!!

But don't spend like a drunken sailor, and I'd also suggest the couple months goal to 9-12 months. Once you settle back in and start looking it doesn't mean you can't have fun. Do some long-weekend trips (but during the week when it's cheap!), etc. Your schedule isn't set so you can take advantage of cool opportunities.

The time will go *much* faster then you realize and you'll get a lot less accomplished then you imagine. It's way too easy and very common for people to get a big severance and coast for a couple years on it (then on their savings) and end up with expired skills, little appeal to prospective employers, and flat broke *as* they're supposed to be getting ready for retirement.

That's the bitch of it... you have time, but until you know where your next paycheck is coming from there will always be the worry in the back of your mind and the anxiety about spending too much money. And once you have a job again you'll have no time to enjoy yourself! Sucks!

[Guest gcursor]

Yeah...I can sympathize. My job went away as well (overseas) after working at a company for 18+ years. It was a very good run though and I'm surprised I survived as long as I did as I saw huge amounts of my friends leave months and years before I did.

I'll be taking some time to myself now. I'll be getting a package and cashing out my 401k. I'll be financing a few more..um...get-togethers. I'll also be collecting UNEMPLOYMENT for the FIRST TIME IN MY ENTIRE LIFE and you know that I'm going to be making the best of that!

So I'll just be sitting around thinking of strange and funny things to say for the next little time trying to decide where my next path will lead to in my life. Now this next part is a joke so take it with a huge grain of salt BUT I was thinking of maybe opening a FAT ESCORT AGENCY. By the way, I AM very fat just so you know so I'm not casting aspersions (jesus..I think I just swallowed a dictionary!). I mean yes..it's a niche market but it might take off and do pretty good..you never know.