How to prepare your finances for a potential layoff

5 smart money tips for uncertain economic times

An illustrated image of an office chair covered in a 'dismissed' sign
It's not just the tech industry that's culling employees
(Image credit: S-S-S / Getty images)

As tech giants continue to cut jobs, now may be a good time for workers across all industries to put a strategy in place to prepare their finances just in case a layoff is looming.

While high-profile layoffs at companies like Google, Microsoft, and Amazon are making headlines, it's not just the tech industry that's culling employees. More than 17 million workers were laid off or fired last year, Vox explained. Walmart "has been laying off hundreds at e-commerce facilities nationwide," according to Retail Dive, and the company plans to rely more on robots at distribution centers. Middle managers might be next to face the chopping block, Bloomberg reported. "Middle managers everywhere are under increasing pressure from both above — receiving missives from their bosses to do more with less — and below — enforcing return-to-office policies and navigating new hybrid work arrangements."

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Kelsee Majette, The Week US

Kelsee Majette has worked as a social media editor at The Week since 2022. In 2019, she got her start in local television as a digital producer and fill-in weather reporter at NTV News. Kelsee also co-produced a lifestyle talk show while working in Nebraska and later transitioned to 13News Now as a digital content producer.