Preparing for Potential Layoffs

Having a financial plan in place is crucial when facing potential layoffs or uncertainty in employment. It's recommended to maintain a fully funded emergency fund covering three to six months of living expenses, which can provide a financial buffer during unemployment. This approach allows individuals to avoid making rash decisions, such as rushing into new job searches or taking offers that may not align with their career goals. Moreover, proactively networking and exploring other job opportunities can also be beneficial, as it positions individuals to pivot quickly should their job situation change.