Laid off: what to do in the first two weeks

Days 1 to 3: protect your money and your deadlines

• File for unemployment the same day or the next. In most states benefits count from the week you file, not the week you were laid off.
• Do not sign a severance agreement on the spot. Ask for it in writing, note the deadline and read what you are releasing.
• Get your paperwork: final pay date, accrued vacation payout, benefits end date, 401(k) and equity statements, and a letter confirming the layoff.
• Ask whether outplacement or job search help is included. Employers often offer it if you ask.

Days 3 to 7: health coverage and cash flow

• Compare COBRA with an ACA Marketplace plan. Losing job-based coverage opens a special enrollment window, generally 60 days from the loss of coverage, and COBRA has an election window of at least 60 days.
• List fixed monthly costs and what you can pause or reduce. Call lenders early if a payment will be hard.
• Leave retirement accounts where they are until you have compared rollover options. Early withdrawals can carry taxes and penalties.

Days 7 to 14: start the search with people, not applications

• Tell your network in plain words what happened and what you want next. Short and specific beats long and vague.
• Ask three former colleagues for a reference line and a 15-minute call.
• Update your LinkedIn headline and turn on the setting that tells recruiters you are open to work.
• Set a weekly plan: a number of conversations, applications and follow-ups you can keep up for months.

Frequently asked questions