We are seeing a lot of companies doing or going to do layoffs around the world and thus these are testing times for almost all professionals around the world. Yesterday around 80% of the Twitter India staff has been let go and then there are other companies which are doing the same.
For me, this is the time when how good your financial knowledge is being tested. This is the time when everyone should have an emergency fund to take care of their time until they get the job again. I know this is the testing time and it has been emotional for almost everyone out there, but again if your finances are set then we do not have to worry much about the same and thus continue to upskill as well as continue searching for the job.
One thing that is constant is a change which means we have to continue charging our strategy to adapt to the changing world, like upskilling ourselves as well as keeping pace with the change which is happening around the world. And that's why it is said that never love your company because the company can kick you out anytime, always love your job as well as be prepared to give an interview at any time.
Along with that, the passive income stream should be continued so that even if you do not earn now, you can get something from the passive income. And that passive income should be around your monthly expense. This is doable only if you reduce your expenses and thus try to keep that until and unless you increase your passive income to that level.
This is doable, but people who have layoffs now should get the job as soon as possible and then start doing all the above things if they are not doing them still.
Posted Using LeoFinance Beta