He quickly learned that 'work friends' are usually just 'acquaintances'. They're nice when you're there, and once you're gone you'll never see them again.
The funny thing is some of the new guys I was mentoring at my last job dropped communications with me, even though I still see the old salty dogs for beers. Guess what, my employer is hiring now, and the pay is much better, with a more relaxed culture. Guess who isn't getting called about the opening. You stop talking to me, it's your loss. Dumb zoomers.
@@aluisious Don’t take it so personally. People can’t really be expected to keep up relationships with everyone they meet along the way. Or is it you just that you like enacting your revenge fantasy dreams.
My advice to anyone earning 250k. Live like you earn 125k and save the rest. On the day you get laid off feel good that you still have all that money from your high paying job to keep you going. Don’t be that person who goes from living 250k lifestyle to zero in one day and have to start worrying about paying bills and keeping a roof over your head. Edit: I just watched one of your other videos and realised you did exactly this!
Thank you for sharing very sensible and valuable financial advice, and yes I was very fortunate to have access to great teachers and financial content to build up so much buffer. (and thank you for spending even more of your precious time watching my other videos too!)
@@chuntong6290 When i wrote the comment I was thinking of USD but it’s the same concept in any currency. Live on less than you earn, save and invest for the future. I didn’t make this up, I borrowed the idea from others.
In my first week of work, our department”s senior partner took the new employees out to lunch. Someone asked what is one advice you can give us starting off? He said, take care of yourself first. When it comes to the job world, everyone is expendable including himself. It’s just business. So if you’re going to work, work for yourself first. Company comes second. This means taking care of your long term personal career goals and finding ways to balance your value and professional desires the company can provide u. This means taking care of your health and mental being. And more. 15 years later, I still remember that lunch.
I'm an 85 year old retired aerospace engineer who worked both as a direct employee and as a contract engineer who essentially worked for himself. For what it's worth, I made a Whole Lot More Money as a contract engineer who was paid time and a half after 40 hours vs. when I was a salaried engineering mgr. Plus the tax code was and still is written to benefit an employer vs. an employee.
I have always lived my life as though I could be let go tomorrow. I never felt any type of security and always saved just in case of this scenario. I have been at the same company for almost 30 years now. I still feel as though they could let me go at any time.
It's sadly true, the most painful time is also when we learn the most. :/ I guess it's just part of being alive, pain drives us forward to be in a better future.
@@slimjimjimslim5923 I would argue that it is never "pain" in and of itself, but an array of factors that, when combined with that pain, can make all the difference!
You can try Malaysia. The Malaysia government always seem to have problem with brain drain and Malaysians here generally value foreigner talents more than the local talents. So I think you can try your shot here. Good luck.
@@LevilleFon either way right .......how many businesses dont make it a year....and of couse you didnt address the fact that 20M people cannot do that.
@@LevilleFon so are you ignoring my other statements ?....i think when people say starting your own thing to the masses is short sighted and reckless because you dont say the negatives or the low chance of actually surviving ...instagram reel is all you give.
That's why cold approaches + skills of talking to strangers is life cheat code (If u have no ego of cos lol) Someone's waiting to meet/collaborate with u out there, and trust me its a skill that even my CEO ex-bosses from 10 previous companies deprived of LOL. Cos they be thinking they're too high up to make friends with anyone 😂When they're outside, they're jus another Tom, Dick, Harry nobody cares about
Hey Shao, I seldom comment on YT - but this video really resonated with me. I got laid off almost a year ago, immediately started job hunting and went through the exact same emotional roller coaster you have described. Even after landing a new role, I could never quite shake off that feeling of inadequacy and low self worth. I thought it was just me, but hearing you describe your own experience made me realise how we are all so alike. Thanks mate, I hope you've landed your next adventure already and are enjoying life again 💪
Thank you Tariq for being so open. I also hesitated to share my experience so openly, but your sharing has affirmed that so many of us are indeed alike going though the same pain. And we should continue to share and encourage others so that one day, they will bounce right back up just like you did.
With a BS degree in Electrical Engineering, I was unemployed in both my 30's and again in my 40's, and can relate that the emotional feeling are real. But also, so is the hard work needed to secure a new position (smile...smile).
I resonate with your comment, was also laid off, and I thought with my exp and field it was going to be easy but hiring its crazy and once you get a new job you always feel it can happen again
@@9to5MillionaireMindsetUs older IT workers from the Dotcom crash know not to work at Big companies more than 1-2 years as they often to mass layoffs. Explain this point to young workers, NEVER stay at a big company long term.
Shao, I really admire your positive approach towards layoffs. Life can be tough, but it's not necessarily difficult. One thing I've learned from this experience is the need to constantly work on yourself and try to build a world outside of your work circle as well.
Yes life is gonna be tough no matter what happens (getting laid off is hard, finding a job is also hard). But we can choose which "hard" we want to focus on.
As someone in the Recruiting and Staffing Industry this video is brilliant. Life sucks sometimes, it's hard to pick yourself back up, at the end keep pushing forward, one small step at a time...just move forward
Thank you for watching! And yes folks in recruiting and staffing do such a crucial job, but it's often misunderstood or unappreciated (especially during a layoff or tough period). Keep doing what you do so we can all be matched with our dream jobs!
Having just joined the thousands of people that have been laid off, this is a brilliant video. The stressful part for many people might be the financial impact, sometimes finding the next role, is just the next role for 'now' while you regain a level of financial security while finding the right job.
I was laid off from my dream job at AWS last April. It was tough, but I realized that hard work and networking are crucial when searching for the next opportunity.
As a Googler until recently (left voluntarily though, after 18 years) who saw many great colleagues let go, love the pragmatism and future-looking optimism of your message. Looking forward to more of your videos!
It's wonderful to share your experience. One of the issues in corporate america is that majority of the people getting laid off don't get a huge severance packages like Google/Meta provides. So, your words of encouragement is cute but very hard for someone to process who have little savings, and have been living paycheck to paycheck. If all of us did not have to worry about health insurance, car insurance, rent/mortgage, auto mortgage, kids, and other things in life, no one would get hit hard by layoffs. If you look at other countries in Europe/Asia, cost of living/health/auto/travel is very low. Literally one person could work and take care of 4 people. So, if one person in the family gets laid off and other household members still have a job, it doesn't hit them as hard. But in the US, two working people can't even take care of a single household. So, one person getting laid off is close to a death sentence. Just look at the housing cost in California, who in their right mind allowed it to happen and continues to let it happen?
That is why one needs to have an education in how to plan one’s finances for their lifetime. The USA is terrible in that way. Very-few people know how to budget for things. It is a sad country when it comes to that skill even being taught, let alone being implemented in individuals lives.
It highlights the importance of prioritizing our personal lives before the company. Your insights remind us of what truly matters in life. Thanks for sharing mate!
The sad reality is that the tech field is going through AI restructuring. From 2021-2023 they have laid off 500,000 positions. In 2024, 321 tech firms have lost 96,551 and the projected 2026 laid-off may reach a 5-year total of 1,000,000 jobs. The coming real estate crash will cause high-tech firms to lose up to 50% stock value. The new book The Bubble that Broke The Bank sees the magic year to be in 2026. You are in a survival race.
Well, there is no strong reason for real state market to crash. I also missed the rally, but that doesn't mean I'll wait for dream for a crash unreasonably
The ripple effect is also scary. $250k a year salary meant having the disposable income to travel, hire babysitters and pet sitters, renovate houses, have a cleaning lady, etc There is an entire mini economy that runs off upper middle class white collar workers
Thank you for sharing this. This is a really well-articulated video and might help everyone who faced layoffs. We all are part of this survival race and the community should help each other in this tough time.
It's great you gained some life lessons from this. I've left a few "dream jobs" in the past and almost always another better job or career came up. Time down, if you have an emergency fund, can also be a wonderful opportunity to reset and skill up. I always grind after a layoff to ensure my next opportunity is better - so it's important that people don't fall into a depression.
Thank you for your encouragement and insights. Indeed that's what I did, to have an emergency fund so it has given me a lot more options. You may check out my first video in this same channel called "I got laid off by Google and Now I'm Financially Free" Thanks again and all the best!
One of the most down-to-earth experiences of being laid off and agree completely with him, speaking from personal experience after having gone through 3 lay-offs. While lay-offs have ostensibly been painted as a cost-saving exercise, frequently it’s just an exercise to satisfy big institutional investors that a company is doing something visible when every other company is doing the same thing, even if the company is still making profits and top executives are still drawing millions. I’ve known of cases where after the lay-offs, companies rehire the same or very similar positions again.
The company doesn’t care about the employees best interests. Anything that has a salary is an expenditure even though you probably generated 10x the value of what they paid you. They basically owe you the employee money because when you factor the surplus salary they pocket by pillaging it from your pay check, you were basically working for free.
Not sure what brought me to your video but I thought it was excellent. I am nearly 60 and work in finance not tech. I have over my 40 year career been laid-off twice and can relate to all of your sage advice. It's horrible. The first time it happened I kept having dreams that I was back at work. The one extra piece of advice that I would add is this: that the people you think will help you often don't, but conversely the people you think probably won't help you actually do, in terms of letting you know about openings elsewhere and helping you connect to the right people. So, don't be afraid to get in touch with EVERYONE regardless of whether you think they like you or respect you. You just never know.
Wow this is my first layoff I am going through and you are absolutely right. The people I thought could help me are not (mostly because their hands are tied too) but people I haven't spoken in years have kindly offered me to work for them. It also made me realize how important it is for us to maintain good relationships and always be doing a good job even when we think no one is looking. The good reputation we build up really does travel far and wide. I also had the same weird dreams that I was back at work and reliving the layoffs, then waking up realizing I am not late for work (or not needed to rush to office). Thank you for watching and sharing your encouragement! I hope you can subscribe to my channel as well. Take care!
I was fired in my 20s (not laid off). Best thing to happen to me. I was an accountant and miserable. I saw the department heads and didn’t aspire to become them one day. I went back to school and got an MBA and then a law degree. I honed in on the industry that inspired me (tech), and that has taken me on a magnificent 25 year journey so far serving in legal and business roles, including roles as Chief Legal Officer and one as CEO. 5 years ago I struck out on an entrepreneurial journey and that has brought a new dimension to my career. Use every inflection point in your life to your advantage. You will have many forks in the road.
Thank you for your assurance! I indeed believe there are many forks down my road too! And great career advice too; asking yourself if you have the aspirations to become the current leaders of your current role.
Good to hear, but for most people, getting laid off is just bad, no silver lining. You got lucky, most just have to take the hit and whatever job they can find at that time and start building again from there
Very insightful stuff, The first experience of a layoff can be quite traumatic as you said so much of ones identity is tied to their job, once you detach from that its much easier to move on. Not everyone has grandiose visions of advancing their career, some are just role players and that’s ok too. The most important thing is to take care of yourself. The universe works in mysterious ways.
Amazing video dear Shao, it makes me clear so many circumstances that I also went through, and I believe that we share the same ideas, but you make them so easy to understand! I love the structure of your wise words.
4:10 this is the one that surprised me. every person i text after i got laid off didn't respond. i thought maybe there was a memo to not speak to employees who got let go, but the harsh reality is, they were never your real friends and simply just don't care about you
Thanks for sharing your real and raw experience. It sounded like you went through a lot and I hope you are at a better spot now. Thank you for watching as well!
Man, you really are great as it will take some getting to come out of the frustration of being laid off. From there, to take things in the right sense after a thought process of understanding why it happened with calmness is even better on your side. Surely, your experience would have given many a chance to look back at layoffs as an opportunity and move on. Its easier said than done but not impossible to keep cool under crisis. You did that exactly, man. Kudos
Thank you for saying that. It's indeed my goal to bring positivity to the world, so I am glad you felt and noticed that. All the best and take care too!
In the IT industry, expect to face layoffs at some point in your career. With nearly 30 years in IT, I learned to anticipate signs of potential layoffs and proactively sought new opportunities before they occurred. This proactive approach helped me transition smoothly before facing layoffs three times at different companies. Being employed makes job hunting easier.
That's great advice. To be proactive rather than reactive! I think your advice applies to other industries beside IT too, as so many industries are getting disrupted too.
Hey thanks for your support! I actually shared about becoming financial free even after being laid off in my first video in this same channel. Do check it out!
Great testimony. The vast majority of colleagues at work are "situational friends". If they will share your happy and sad events and you can confide in each other, that is great. It's great to have those and it sucks if people are snobs or backstabbers. I guess this hits harder to younger people and people who've been in the company for an extended period and got used to the work family.
Indeed, at the end of the day we are all looking for all weather friends and not situational ones. And I was fortunate to have met quite a few of them. Thank you for watching and supporting my channel!
@@9to5MillionaireMindset no problem keep going, you are changing people for the better. I am new here and already I am grateful to come across this advice
Excellent video! I got laid off from my Embedded Systems Software Engineering job at a defense contractor in 2001. Luckily, I had a real estate broker license, and so I did real estate until the real estate market crashed in 2008. Then , I got my paralegal certificate and opened a paralegal business, which I operate to this day! I am taking the California Bar Exam next month! Needless to say, I have not looked back!
Lots of lessons to unpack here, especially on how you kept on improving and working on yourself and not letting any setback define you. Thanks for sharing your life story and victories!
As biotech veteran of 6 or 7 layoffs, the first one was hard and after 4 you get used to it and know when they are coming. The coworkers go through a survivors remorse so just let them know. Mainly be sure to have a good network of former coworkers because that is where all my jobs came from. The advice this person is giving is very good
God bless you brother, this news is becoming far more common nowadays, unfortunately. I too was let go from a high paying job back in March 2024, and decide to focus my energy in building my own business. Fortunately, I was able to retire from my previous position. I have subscribed wishing you will. Thanks for sharing
I got laid-off over costs in advertising years ago in the 1990's, and it probably actually saved me from a heart attack from over-working and flying all over. I slowed down opened my own business, and made far less income, but when I had made the $$ in advertising I had bought my first house, and once in I could continue with less income with a roommate. So don't live spending all your money, spend 1/2 and live simple and humble. Be free!
Great video, on the work colleagues point: It's the sad reality that work friends are hardly ever true friends... Once you are no longer useful to people then you will get discarded. A tough lesson, thank you for sharing your experience.
Thank you for watching! Indeed it's a tough lesson, but it's also an opportunity to be empathetic; every work colleague is just doing the best they can in a tough situation faced by all. And knowing those that do stay in touch are indeed friends for our next chapter!
Thanks for giving those tips. Those emotions arise due to fear and drastic changes in life patterns. Much like a widower’s life changes, you will get back on track and be ready to manage setbacks and appreciate your winnings with wisdom. Only trustworthy friends desire the best for you and will be there to help you out. Build these relationships, as they can be found anywhere. They will be your lifesavers during downs and will celebrate your ups. Whatever you decide to do in the future, good luck because you are already talented.
Thank you for your kind words, your support and most importantly your belief in me even though we are complete strangers. The world still has so many good things for us to look forward to.
Something very unique i notice in this clip. Before touching on the uniqueness, i admire the way you handled this layoff, and your sharing is highly commendable. Next, the uniqueness. U took the effort not only to reply to almost to everyone who posted messages , but you contexulised your reply accordingly. Kudos
Wow thank you for noticing that. I just think it's so cool that so many people across the world has spent whatever little precious free time they have to watch my video; and even take the effort to share their stories / advice here for the rest of us. So the least I could do is thank them for that and also add on so to create more positive energy and hope. So thank you for watching and sharing. This world is indeed filled with kindness and possibilities.
Please know now that nothing lasts forever. Only family will be there, and even then maybe not. You'll be fine, you look physically fit, and healthy. This will only make you stronger.
Everyday when I wake up I will always remind myself to love myself and family and some of my friends more than work. The day comes when they want to save cost , whatever awards or performance I have are useless. No matter what we are just a pawn for the higher up to use so they can progress. Sad but true.
You should always be keeping your eye out for what else you could be doing. If I was fired tomorrow I already know several places I could apply. Also helps to figure out if your employer is slowly trying to rip you off, which is something that happens to most people.
Uttering the comments of many others, this is an absolutely brilliant YT post my friend. You intelligently synthesized the emotional rollercoaster of being unceremoniously fired and the challenge to pivot and persevere. I've been a business professional for 30+ years, and have been both downsized as well as worked at 2 U.S. firms (in separate decades) that imploded as a result of the largest bankruptcy ever (one is Lehman Brothers). In short, it was not only difficult for many of us to lose our amazing jobs, it was gut-wrenching to watch almost our entire "net worth" evaporate in a matter of days. Now if that wasn't bad enough - to make matters all my close (work) friends are now literally incapable of being a resource to find a new job. Good luck folks
Thank you so much for your support and encouragement! I graduated right after Lehman brothers so I know exactly what you mean. I joined Merrill Lynch right after it was bailed out and acquired by BofA. So many Merrill senior colleagues of mine saw their net worth just disappear. My manager also previously worked 20+ years in Citi and only held Citi shares. When they went from $80 to $0.50, his retirement was basically wiped out. Just curious, which do you think is worse? the Lehman 08 financial crisis or our current cost of living crisis? It's also really tough to see your friends being incapable of finding new work. Some of it is controllable (i.e. get new skills), some are not (i.e. companies preferring younger cheaper labor) All the best to you and your friends in facing what is indeed a challenging moment!
@@9to5MillionaireMindset Thanks for the anecdotal comments. Interesting to see there's some parallel or overlap to our career paths. Your question: "Just curious, which do you think is worse? the Lehman 08 financial crisis or our current cost of living crisis?" Answer: Great question. My opinion. I would say the current (Inflation) crisis is likely much worse, why? Well I think there are multiple factors at play here. --> 1) Excess COVID stimulus | 2) The Current Crisis is Pervasive and Larger | 3) The ERA of Ai 1. It appears to be an existential crisis, in that it permeates all of society, and frankly the entire globe - it obviously is a direct result of draconian measures to "arrest the COVID spread". For the better part of 2 years, the largest economies essentially "grinded the gears" to stop the world from spinning (i.e. economies), and substituted organic GDP with a "cash" printing machine. Ergo creating massive "asset bubbles" (e.g. real estate / stocks / crypto / etc.) and (an) economic catastrophe that has not quite reached its apex. 2. The '08 Financial crisis was a sudden and isolated matter. It was somewhat "self-contained" (to major global financial markets) and quickly remediated. After all there was only ONE major corporate failure - Lehman Bros. Perhaps less than 1/1000 of 1% of the globe was impacted long-term . Whereas the current global Inflation Crisis is insidious, pervasive, more complex and several factors larger. 3. We are in the ERA of Ai. This is unlike any technological transformation the world has ever experienced, because by its very nature, Ai's premise is to replace SWATHS of human thinking and to a capabilities. Moreover, Ai will accelerate the disproportionate concentration of wealth. E.g. - Elon Musk today that TESLA will begin the mass production of Humanoids - - > like WTF right!! From a Labor Market perspective - the advent of Ai is and will be massively consequential for "Service-based" economies such as the U.S., since it's impossible to pivot as the "tech is also pivoting" (acquiring knowledge) concurrently. So what? Well, I would argue, the sign of a vibrant economy is rising "wage rate" above YoY core CPI (inflation). Macro perspective: as we are seeing today, as more companies PERMAENTLY reduce staff due to significant drops in Revenue OR due to Ai driven efficiencies, it will absolutely have a negative significant impact on wages, which will compel governments to engage in deficit spending to provide financial support to the populace. In effect, resorting to principal catalyst that creating the Cost of Living crisis in the first place, "Printing Money". Cheers!
Thanks for sharing your in depth analysis. All 3 of your concerns are indeed valid, real and worrying. It's gonna be a challenging 5-10 years from here on out. Despite these challenges, I am still optimistic that as long as we are hardworking and remain kind, beautiful things will always come our way. We may just have to redefine what work and success look like. If AI is gonna make working unrewarding and unfun, then we simply have to find a new and better game to play and win at. Take care, and thanks again for discussing this with me with such great details.
Lesson number 1 - always take it personally. It’s the most personal thing they can do to you. They are saying I’ve just taken away your ability to feed your self and your family. I take that personally, so should you. There’s no such thing as- it’s only business. This is normalisation of sociopathic behaviours. I left the city (London) 20 years ago. It was full of too many of these people. I worked in strategic arbitrage for a large company. I became an artist & sculptor. It was a good life. Less money but more smiles & the people I met were good people. Artists are a crazy bunch. But they are humans. You don’t find many humans the farther up the ladder you go.
Thank you so much for this video. I have just experienced the same path and I can't agree more with you on every single topic you brought up. I wish you had created this year ago, you would have saved me so many difficult moments. Yet, I want to emphasize the friend circle topic. This was the most difficult for me to accept. So many people that where acting as friends and finally they were not...
Thank you for your kind words and for spending time watching my video. I was initially worried and feeling insecure like "who am I to tell people what to do and feel". So your assurance tells me I am on the right track. And yes I wish I was also told these harsh realities early on because they were not taught in school or talked about at the family dinner table. So one of my goals of creating this channel to spread more awareness about such realities of working. And yes the friends part is really hard to accept. But it's an opportunity to be kind, everyone is just doing their job and trying their best to take care of their families. Those that stick with you are then a bonus, that you found really good friends ☺️
I was not laid off. But I've had a gut feeling that the company I was working for will do it soon. So what I did was I mustered all my resources back then and launched my own startup while still being employed. Now, I can say it has finally paid off (it has been almost a year since I have left).
I'm sorry to hear this. The higher you climb, the more unstable you are. CEOs earn a lot because of employees' hard work. Always think outside the box, come up with an idea, and bring your idea into reality. You can work for yourself. The harder you work for yourself, the more accomplished you will feel. I have never applied to any company. I don't give my ideas and hard work to CEOs because they will benefit, and the return will be peanuts.
Exactly, how I went through and felt and rationalized by being made redundant and trying to look for a new job which didn’t happen after 2 years-coz I was already at 46 yrs old then in 2016! So I decided to start my ‘FIRE’ even though I didn’t plan to at 46. Thanks for this video-kind of ‘comforting’ to know that u r not alone🥰
Huge respect for you to share your learnings. Your explanations are the sharpest, clearest of all experienced losing job without emotions and only logic and sanity. Most importantly I can sense honesty and sincerity from you. Really enjoyed your video.❤
Thank you for saying that! That's exactly the vibe I want to create and share on this channel. I truly believe that as long as we stay hardworking and remain kind, beautiful things will always come our way. All the best to you too!
Thank you very much for this video. I got to know two days back that my name is in the layoff list and haven't been able to sleep since then. I feel confident and positive now.
Sometimes in life you don't jump, you get pushed. Keep up your confidence, I will be rooting for you. And when you find your next role, come back here and share the good news with me!
Good advise. May you bring your experience to your next job and inject a level of humanity into your work environment. I always believe that it's needed to take care of each other and to balance the voracious appetite of the soulless corporation vs taking care of our fellow man/woman
Thank you for your best wishes. Indeed it's important to always be kind. May I ask what industry are you in? Do people there take care and respect each other? Thank you for watching as well!
The hard truth is that you did not get the right rapport with your direct manager. And they select you to get retrenched over others. Its not about performance but it's you are considered not to be your managers boy or maybe you could be threatening your manager position
Great video - This might be shocking for someone not living in North America. We have seen VP with half million salary gotten LAID-OFF overnight and get back into Mid-Level job from the next employer. This is very common in North America (US / CAN). However thanks for these insights.
Wow thank you for sharing. Do you know what are some of the reasons for that to happen? Is there not enough high paying jobs or is it an age thing? Here in Singapore it's more common for people with high paying jobs to stay jobless for a long time because 1) these people tend to be older and companies prefer younger and 2) from a "face" perspective people still want to keep the same title and level and not go downwards.
first layoff is always the toughest. The first few things come to mind is why me, what did I do or didn't do. You start to review back the time you employed and try to find an excuse why they selected you. Everything you said is right. Layoff comes down to the company trying to save money. It could be several reasons 1) you are the highest paid on your team 2) you didn't kiss ass to your manager like other members on the team 3) executive need their bonus. I too have seen deadweight was saved from being layoff because they were ass kissers. At the end of the day, you should never blame yourself why they picked you. it comes down to all jobs are replaceable, we are just a number! It does suck to find new job especially you are pressure with children and family to support, and bills to pay. The most difficult is to overcome the mental part.
Musical chairs in primary school helped to prepare us for these situations. Keep your chin up and keep moving forward with your positive attitude, sir!
wow I never thought of musical chairs that way, but now that I think of it, it is a lesson about competition and accepting that sometimes we are at the right / wrong place at the right / wrong time.
Getting pushed is the best thing that can ever happen to you! Good luck on your journey, sir. Greatness is just around the corner. Thanks for sharing your story with us!! :)
Thank u so much for sharing your thoughts... raw n insightful. Yes, layoffs sucks big time and you need time to overcome it. I had mine in 2012 but fortunate enough to have a helping hand to land the next role within 6 months. I wish you all the best in the next role and you will do great! 🙏
I am glad you found it relevant. And well done on overcoming your own layoff. It's getting so common that it's now a crucial career skill for all of us to have.
I had no skills, network, or reputation. So I started my own business. Best decision ever. Lol. By the way, sorry about your loss. Don't know how I stumbled upon your video, but I enjoyed it. Take care.
I would argue that because you started your business, you have valuable skills, network, reputation and MORE! Thanks for reminding me there is a life and paths outside working. Thanks for watching as well, I wish you all the best too!
He quickly learned that 'work friends' are usually just 'acquaintances'. They're nice when you're there, and once you're gone you'll never see them again.
and once the so-called work friends leave the job, you never see them again, etc..
The funny thing is some of the new guys I was mentoring at my last job dropped communications with me, even though I still see the old salty dogs for beers.
Guess what, my employer is hiring now, and the pay is much better, with a more relaxed culture. Guess who isn't getting called about the opening. You stop talking to me, it's your loss. Dumb zoomers.
@@aluisious Don’t take it so personally. People can’t really be expected to keep up relationships with everyone they meet along the way. Or is it you just that you like enacting your revenge fantasy dreams.
Work friends gone, family is what matters. Family stays…the guy should get married and have kids…he wouldn't need work friends.
@@accidentalfarmer1877
A wife can leave you AND take the kids, AND your house!
My advice to anyone earning 250k. Live like you earn 125k and save the rest. On the day you get laid off feel good that you still have all that money from your high paying job to keep you going. Don’t be that person who goes from living 250k lifestyle to zero in one day and have to start worrying about paying bills and keeping a roof over your head.
Edit: I just watched one of your other videos and realised you did exactly this!
Live way less....honey...125k is above the National medium income!
Thank you for sharing very sensible and valuable financial advice, and yes I was very fortunate to have access to great teachers and financial content to build up so much buffer. (and thank you for spending even more of your precious time watching my other videos too!)
One year in a 250k job would last me 10 years. He must have worked many years, enough to retire 🤔
250k USD or SGD?
@@chuntong6290 When i wrote the comment I was thinking of USD but it’s the same concept in any currency. Live on less than you earn, save and invest for the future. I didn’t make this up, I borrowed the idea from others.
In my first week of work, our department”s senior partner took the new employees out to lunch. Someone asked what is one advice you can give us starting off?
He said, take care of yourself first. When it comes to the job world, everyone is expendable including himself. It’s just business. So if you’re going to work, work for yourself first. Company comes second. This means taking care of your long term personal career goals and finding ways to balance your value and professional desires the company can provide u. This means taking care of your health and mental being. And more.
15 years later, I still remember that lunch.
That senior partner sounded like a great person, and that lunch sounded like a blast.
Thanks for sharing your advice!
I'm an 85 year old retired aerospace engineer who worked both as a direct employee and as a contract engineer who essentially worked for himself. For what it's worth, I made a Whole Lot More Money as a contract engineer who was paid time and a half after 40 hours vs. when I was a salaried engineering mgr. Plus the tax code was and still is written to benefit an employer vs. an employee.
He's absolutely right.
@@travisbickle1455 yup valuable advice for me as a 22 year old at the time.
I have always lived my life as though I could be let go tomorrow. I never felt any type of security and always saved just in case of this scenario. I have been at the same company for almost 30 years now. I still feel as though they could let me go at any time.
"Sometimes in life we don't jump, we get pushed!" - beautiful
It's sadly true, the most painful time is also when we learn the most. :/ I guess it's just part of being alive, pain drives us forward to be in a better future.
Pain is also the most effective teacher 😊
@@slimjimjimslim5923 I would argue that it is never "pain" in and of itself, but an array of factors that, when combined with that pain, can make all the difference!
@@9to5MillionaireMindset But only after.
This is the first most calm, logical, and compassionate thinking of layoff I have seen in CZcams. Hope you find something new and maybe better soon!
Thank you that was exactly the vibe I was hoping to bring to the world!
You can try Malaysia. The Malaysia government always seem to have problem with brain drain and Malaysians here generally value foreigner talents more than the local talents. So I think you can try your shot here. Good luck.
"The only people that will remember all the late nights and weekends you put in at work are your wife and children" - from "A life engineered" dude.
Realest words
@@9to5MillionaireMindset realest? never seen that word.
Boy, that's the hard truth!
@@brightonchou1393 You saw it at least twice. First when you read his comment, second when you typed the word yourself in yours. Stop lying.
I regret the late nights and weekends for sure
I was laid off from Google, and that was the best thing that happened to me
Even ex google employee having a hard time finding a new job, yup my life is over.
Hang in there mate! 💪
@@GeorgiaMade404 maybe tough to find a similar job with same salary
I'm an ex Google employee and having a hard time as well. I have an interview with amazon next week, so hoping this gonna be my big break.
It always depends on your job type. He was Head of Sales for Small Companies. Maybe they just merged it with another position.
Oh Woe is me
This is an amazing take on being laid off. I admire your positive and level-headed outlook.
Thank you for your kind words and support. No matter what happens, if we stay positive and kind, we will always find our way.
Never trust corporations, work for yourself first
yea because 20 million people can do that ....geez
@@Hard_Qs you will be poor and laid off until you die
@@LevilleFon either way right .......how many businesses dont make it a year....and of couse you didnt address the fact that 20M people cannot do that.
@@Hard_Qs start as a contractor and later create your LLC
@@LevilleFon so are you ignoring my other statements ?....i think when people say starting your own thing to the masses is short sighted and reckless because you dont say the negatives or the low chance of actually surviving ...instagram reel is all you give.
Getting laid off really sucks, but to avoid the worst, build a network outside of work! 💼🔗
💯 at the very least we have diversification of networks, at the very best we have more great friends 😁
That's why cold approaches + skills of talking to strangers is life cheat code (If u have no ego of cos lol) Someone's waiting to meet/collaborate with u out there, and trust me its a skill that even my CEO ex-bosses from 10 previous companies deprived of LOL. Cos they be thinking they're too high up to make friends with anyone 😂When they're outside, they're jus another Tom, Dick, Harry nobody cares about
Always gather corporate secrets so you can sell them when getting laid off.
best to stay on Linkedin others that were laid off might be your network or people who left and went somewhere else you can contact them.
Sometimes layoffs target the higher paid employees to reduce cost.
yea layoff the big boys and bring in some minimum wage people. Totally unlivable in the bay area. you could not even live in a car for minimum wage.
Hey Shao, I seldom comment on YT - but this video really resonated with me. I got laid off almost a year ago, immediately started job hunting and went through the exact same emotional roller coaster you have described. Even after landing a new role, I could never quite shake off that feeling of inadequacy and low self worth. I thought it was just me, but hearing you describe your own experience made me realise how we are all so alike.
Thanks mate, I hope you've landed your next adventure already and are enjoying life again 💪
Thank you Tariq for being so open. I also hesitated to share my experience so openly, but your sharing has affirmed that so many of us are indeed alike going though the same pain. And we should continue to share and encourage others so that one day, they will bounce right back up just like you did.
With a BS degree in Electrical Engineering, I was unemployed in both my 30's and again in my 40's, and can relate that the emotional feeling are real. But also, so is the hard work needed to secure a new position (smile...smile).
I resonate with your comment, was also laid off, and I thought with my exp and field it was going to be easy but hiring its crazy and once you get a new job you always feel it can happen again
@@julissadc6303seems like regardless of where we are and the type of work we do, we all go through similar aspirations and insecurities 😊
They only let go the losers
That’s so relatable, thanks for sharing this so openly Shao! Much respect!
Thanks Grace for your support so many miles and timezone away!
@@9to5MillionaireMindsetUs older IT workers from the Dotcom crash know not to work at Big companies more than 1-2 years as they often to mass layoffs. Explain this point to young workers, NEVER stay at a big company long term.
Shao, I really admire your positive approach towards layoffs. Life can be tough, but it's not necessarily difficult. One thing I've learned from this experience is the need to constantly work on yourself and try to build a world outside of your work circle as well.
Yes life is gonna be tough no matter what happens (getting laid off is hard, finding a job is also hard). But we can choose which "hard" we want to focus on.
As someone in the Recruiting and Staffing Industry this video is brilliant. Life sucks sometimes, it's hard to pick yourself back up, at the end keep pushing forward, one small step at a time...just move forward
Thank you for watching! And yes folks in recruiting and staffing do such a crucial job, but it's often misunderstood or unappreciated (especially during a layoff or tough period). Keep doing what you do so we can all be matched with our dream jobs!
@@9to5MillionaireMindset89
Very honest speech. I appreciate you for opening up and being kind! I hope you will get your new job soon and have a happy life ahead.
Thank you for noticing that! I was indeed hoping to portrayed my honest self and thoughts as best as I could. I wish you a happy life too!
Having just joined the thousands of people that have been laid off, this is a brilliant video. The stressful part for many people might be the financial impact, sometimes finding the next role, is just the next role for 'now' while you regain a level of financial security while finding the right job.
Thank you for your support and encouragement! Let's keep fighting!
I was laid off from my dream job at AWS last April. It was tough, but I realized that hard work and networking are crucial when searching for the next opportunity.
As a Googler until recently (left voluntarily though, after 18 years) who saw many great colleagues let go, love the pragmatism and future-looking optimism of your message. Looking forward to more of your videos!
Thank you for your support! And excited to hear back from you again on your next chapter!
It's wonderful to share your experience. One of the issues in corporate america is that majority of the people getting laid off don't get a huge severance packages like Google/Meta provides. So, your words of encouragement is cute but very hard for someone to process who have little savings, and have been living paycheck to paycheck. If all of us did not have to worry about health insurance, car insurance, rent/mortgage, auto mortgage, kids, and other things in life, no one would get hit hard by layoffs. If you look at other countries in Europe/Asia, cost of living/health/auto/travel is very low. Literally one person could work and take care of 4 people. So, if one person in the family gets laid off and other household members still have a job, it doesn't hit them as hard. But in the US, two working people can't even take care of a single household. So, one person getting laid off is close to a death sentence. Just look at the housing cost in California, who in their right mind allowed it to happen and continues to let it happen?
That is why one needs to have an education in how to plan one’s finances for their lifetime. The USA is terrible in that way. Very-few people know how to budget for things. It is a sad country when it comes to that skill even being taught, let alone being implemented in individuals lives.
Hey, thanks for sharing your learnings from what must have been a very painful experience. A lot of wisdom in this video.
I was just wondering if I did the right thing in sharing so openly, so thank you for your encouragement
It highlights the importance of prioritizing our personal lives before the company. Your insights remind us of what truly matters in life. Thanks for sharing mate!
Painful experience. Looks like you're doing good mentally, which is good.
Good luck and keep pushing! ;)
I have learned that pain is the most effective teacher. Let's keep pushing!
Sorry about that. I wish you nothing but the best, and I hope your next journey is even more meaningful and enriching financially.
Thank you for your kind support. I wish you all the best too, and thanks for watching!
The sad reality is that the tech field is going through AI restructuring. From 2021-2023 they have laid off 500,000 positions. In 2024, 321 tech firms have lost 96,551 and the projected 2026 laid-off may reach a 5-year total of 1,000,000 jobs. The coming real estate crash will cause high-tech firms to lose up to 50% stock value. The new book The Bubble that Broke The Bank sees the magic year to be in 2026. You are in a survival race.
Thanks for sharing! We gotta keep adapting and improving!
Well, there is no strong reason for real state market to crash.
I also missed the rally, but that doesn't mean I'll wait for dream for a crash unreasonably
The ripple effect is also scary. $250k a year salary meant having the disposable income to travel, hire babysitters and pet sitters, renovate houses, have a cleaning lady, etc There is an entire mini economy that runs off upper middle class white collar workers
@@lg206great point.
"AI" is the curtain. Behind the curtain it's really the H-1B restructuring.
Thank you for sharing this. This is a really well-articulated video and might help everyone who faced layoffs. We all are part of this survival race and the community should help each other in this tough time.
Yes tough times are always gonna be there, but kindness and resilience is something we can always strive for. Thank you for watching!
Straight and to the point. No click bait b.s., just informative and so well organized. You couldn't have worked at Google!
Damnnnnn 😂🫢
This might be the best "mic drop" comment I have received so far on my channel
Perfect video! Very constructive and clear ! Thank you:)
Thank you for watching!
It's great you gained some life lessons from this. I've left a few "dream jobs" in the past and almost always another better job or career came up. Time down, if you have an emergency fund, can also be a wonderful opportunity to reset and skill up. I always grind after a layoff to ensure my next opportunity is better - so it's important that people don't fall into a depression.
Thank you for your encouragement and insights. Indeed that's what I did, to have an emergency fund so it has given me a lot more options.
You may check out my first video in this same channel called "I got laid off by Google and Now I'm Financially Free"
Thanks again and all the best!
Wow.. that was amazing..!! You articulated it very well..!! All the best.
Thanks for your kind words! Please subscribe if you like to see more!
Thank you for sharing that. I wish you all the best!
Thank you! You too!
One of the best videos I’ve seen in this subject. Your approach is very down to earth and you come across as very humble guy.
Thank you
Thank you for your kind words and also so supportive in watching my videos!
All the best!
Here is the best piece of advice that anyone could ever give you: set up your own business and never look back again.
Yes, it's so easy to set up ur own business, become a solo trader 😎😂🤣😃😄
Doing what exactly?
Most businesses fail.
One of the most down-to-earth experiences of being laid off and agree completely with him, speaking from personal experience after having gone through 3 lay-offs. While lay-offs have ostensibly been painted as a cost-saving exercise, frequently it’s just an exercise to satisfy big institutional investors that a company is doing something visible when every other company is doing the same thing, even if the company is still making profits and top executives are still drawing millions. I’ve known of cases where after the lay-offs, companies rehire the same or very similar positions again.
Thank you for your kind encouragement!
The company doesn’t care about the employees best interests. Anything that has a salary is an expenditure even though you probably generated 10x the value of what they paid you. They basically owe you the employee money because when you factor the surplus salary they pocket by pillaging it from your pay check, you were basically working for free.
Put yourself in the company's position😂
Not sure what brought me to your video but I thought it was excellent. I am nearly 60 and work in finance not tech. I have over my 40 year career been laid-off twice and can relate to all of your sage advice. It's horrible. The first time it happened I kept having dreams that I was back at work.
The one extra piece of advice that I would add is this: that the people you think will help you often don't, but conversely the people you think probably won't help you actually do, in terms of letting you know about openings elsewhere and helping you connect to the right people. So, don't be afraid to get in touch with EVERYONE regardless of whether you think they like you or respect you. You just never know.
Wow this is my first layoff I am going through and you are absolutely right. The people I thought could help me are not (mostly because their hands are tied too) but people I haven't spoken in years have kindly offered me to work for them.
It also made me realize how important it is for us to maintain good relationships and always be doing a good job even when we think no one is looking. The good reputation we build up really does travel far and wide.
I also had the same weird dreams that I was back at work and reliving the layoffs, then waking up realizing I am not late for work (or not needed to rush to office).
Thank you for watching and sharing your encouragement! I hope you can subscribe to my channel as well. Take care!
I was fired in my 20s (not laid off). Best thing to happen to me. I was an accountant and miserable. I saw the department heads and didn’t aspire to become them one day. I went back to school and got an MBA and then a law degree. I honed in on the industry that inspired me (tech), and that has taken me on a magnificent 25 year journey so far serving in legal and business roles, including roles as Chief Legal Officer and one as CEO. 5 years ago I struck out on an entrepreneurial journey and that has brought a new dimension to my career. Use every inflection point in your life to your advantage. You will have many forks in the road.
Thank you for your assurance! I indeed believe there are many forks down my road too! And great career advice too; asking yourself if you have the aspirations to become the current leaders of your current role.
Good to hear, but for most people, getting laid off is just bad, no silver lining. You got lucky, most just have to take the hit and whatever job they can find at that time and start building again from there
Very insightful stuff, The first experience of a layoff can be quite traumatic as you said so much of ones identity is tied to their job, once you detach from that its much easier to move on. Not everyone has grandiose visions of advancing their career, some are just role players and that’s ok too. The most important thing is to take care of yourself. The universe works in mysterious ways.
Great reminder that we are all writing chapters of our own stories. And yes the universe works in mysterious and amazing ways!
A better word is colleague or acquaintance instead of work friend.
I also learned that "we are a team, not a family"
@@9to5MillionaireMindset
We sit close; we're not close.
-Stanley Bomanly
Thank you so much for breaking down the lessons learned. This video helped me to understand a layoff from 6 years ago!
I am glad you liked it. I hope you have moved on, found meaning to what you have experienced and are in a better place now!
Amazing video dear Shao, it makes me clear so many circumstances that I also went through, and I believe that we share the same ideas, but you make them so easy to understand! I love the structure of your wise words.
Thank you my dear friend. I always know you are there for me
4:10 this is the one that surprised me. every person i text after i got laid off didn't respond. i thought maybe there was a memo to not speak to employees who got let go, but the harsh reality is, they were never your real friends and simply just don't care about you
Thanks for sharing your real and raw experience. It sounded like you went through a lot and I hope you are at a better spot now.
Thank you for watching as well!
Great honest talk and helpful to all of us.
Thank you for your support!
Man, you really are great as it will take some getting to come out of the frustration of being laid off. From there, to take things in the right sense after a thought process of understanding why it happened with calmness is even better on your side.
Surely, your experience would have given many a chance to look back at layoffs as an opportunity and move on. Its easier said than done but not impossible to keep cool under crisis. You did that exactly, man. Kudos
Thank you for saying that. It's indeed my goal to bring positivity to the world, so I am glad you felt and noticed that.
All the best and take care too!
Sorry to know. Thanks for sharing the tips.
It is very good to see an honest and fresh take to this. Stay strong, king. 👑 We'll all go through this strong.
You stay strong too king!
It's not your fault in mass firings or redundancy.
Thank you for the affirmation; the more people impacted know this, the better!
In the IT industry, expect to face layoffs at some point in your career. With nearly 30 years in IT, I learned to anticipate signs of potential layoffs and proactively sought new opportunities before they occurred. This proactive approach helped me transition smoothly before facing layoffs three times at different companies. Being employed makes job hunting easier.
That's great advice. To be proactive rather than reactive!
I think your advice applies to other industries beside IT too, as so many industries are getting disrupted too.
Thank you very much for sharing! Excellent advice! 👍
Glad it was helpful!
What an amazing insight! Your humbleness and wisdom has overcome any negativity you could harbour and demonstrates you are a next level human!
That's very kind of you; we are all doing our best. I wish you all the best too!
How do companies expect loyalty from their employees nowadays - Google or not.
That is a great insightful video. Very well done and very true. Great content and great courage to put out there.
If you would like to share this information: how did the layoff look like financially? How high Was your severance package?
Hey thanks for your support! I actually shared about becoming financial free even after being laid off in my first video in this same channel. Do check it out!
Great testimony. The vast majority of colleagues at work are "situational friends". If they will share your happy and sad events and you can confide in each other, that is great. It's great to have those and it sucks if people are snobs or backstabbers. I guess this hits harder to younger people and people who've been in the company for an extended period and got used to the work family.
Indeed, at the end of the day we are all looking for all weather friends and not situational ones. And I was fortunate to have met quite a few of them.
Thank you for watching and supporting my channel!
Excellent content!
Your advice is genuine and very realistic. You really have the mindset of a winner and i appreciated this advice even though this isn't my situation.
This is one of the best compliments and encouragement I have received in a long while. Thank you for being who you are 😊
@@9to5MillionaireMindset no problem keep going, you are changing people for the better. I am new here and already I am grateful to come across this advice
The jobs are most likely replaced by Indians from India with their work visa.
I got laid off last week. I found the job already, but I needed your video. Thank you!
Well done on getting back so fast so strong! Keep on your good fight!
@@9to5MillionaireMindset Thank you
You were not laid off bro. Your job went to India.
So he was laid off
@@Maruman_man😂
Exactly. Bingo..for $2 an hour.
CECA was replaced by him and earning same like him also...
I totally agree with this comment, I git laid off, and they hired someone from India (offshore resource) at a much cheaper price.
Wow!! I did not expect this one 'work friends wont be there for you'. That's a pill hard to swallow
Yes it was painful. But pain is often the best teacher 😊
You got laid-off because you're not using a Chromebook lol😂
😂😂😂 you are too funny! Indeed when I was working there my customers would always ask "are they ok with you using a Mac?"
😂🤣😂
Excellent video! I got laid off from my Embedded Systems Software Engineering job at a defense contractor in 2001. Luckily, I had a real estate broker license, and so I did real estate until the real estate market crashed in 2008. Then , I got my paralegal certificate and opened a paralegal business, which I operate to this day! I am taking the California Bar Exam next month! Needless to say, I have not looked back!
Lots of lessons to unpack here, especially on how you kept on improving and working on yourself and not letting any setback define you. Thanks for sharing your life story and victories!
All the best for your bar exam too! Come back and let me know how it goes please!
@@9to5MillionaireMindset thanks bro! I sure will!
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As biotech veteran of 6 or 7 layoffs, the first one was hard and after 4 you get used to it and know when they are coming. The coworkers go through a survivors remorse so just let them know. Mainly be sure to have a good network of former coworkers because that is where all my jobs came from. The advice this person is giving is very good
Thank you for your encouragement and also for watching and supporting!
If you haven't figured out how to make yourself indispensable to the company, your job is by definition vulnerable.
God bless you brother, this news is becoming far more common nowadays, unfortunately. I too was let go from a high paying job back in March 2024, and decide to focus my energy in building my own business. Fortunately, I was able to retire from my previous position. I have subscribed wishing you will. Thanks for sharing
Thank you for both your support and subscribing, and also reassuring many of us that life always has a way of working out if we focus and work hard 💪
I got laid-off over costs in advertising years ago in the 1990's, and it probably actually saved me from a heart attack from over-working and flying all over. I slowed down opened my own business, and made far less income, but when I had made the $$ in advertising I had bought my first house, and once in I could continue with less income with a roommate. So don't live spending all your money, spend 1/2 and live simple and humble. Be free!
I learned to always keep your skill set up. Don't let employers eat up your personal time, it will not be rewarded.
Good on you for making a video about this, mate. It will help countless others overcome the shit show that's coming.
Tough times create tough people.
Tough people create good times.
Good times create soft people.
Soft people create tough times.
I love this video. I left my job as a Manager during the pandemic and found this very helpful
I am glad you liked it! Please subscribe so you may find my other videos too!
Great video, on the work colleagues point: It's the sad reality that work friends are hardly ever true friends... Once you are no longer useful to people then you will get discarded. A tough lesson, thank you for sharing your experience.
Thank you for watching! Indeed it's a tough lesson, but it's also an opportunity to be empathetic; every work colleague is just doing the best they can in a tough situation faced by all. And knowing those that do stay in touch are indeed friends for our next chapter!
Thanks for giving those tips. Those emotions arise due to fear and drastic changes in life patterns. Much like a widower’s life changes, you will get back on track and be ready to manage setbacks and appreciate your winnings with wisdom. Only trustworthy friends desire the best for you and will be there to help you out. Build these relationships, as they can be found anywhere. They will be your lifesavers during downs and will celebrate your ups. Whatever you decide to do in the future, good luck because you are already talented.
Thank you for your kind words, your support and most importantly your belief in me even though we are complete strangers.
The world still has so many good things for us to look forward to.
Something very unique i notice in this clip.
Before touching on the uniqueness, i admire the way you handled this layoff, and your sharing is highly commendable.
Next, the uniqueness. U took the effort not only to reply to almost to everyone who posted messages , but you contexulised your reply accordingly. Kudos
Wow thank you for noticing that. I just think it's so cool that so many people across the world has spent whatever little precious free time they have to watch my video; and even take the effort to share their stories / advice here for the rest of us.
So the least I could do is thank them for that and also add on so to create more positive energy and hope. So thank you for watching and sharing. This world is indeed filled with kindness and possibilities.
Please know now that nothing lasts forever. Only family will be there, and even then maybe not. You'll be fine, you look physically fit, and healthy. This will only make you stronger.
Thank you for your encouragement! And yes while the good times don't last forever, neither will the bad times!
Everyday when I wake up I will always remind myself to love myself and family and some of my friends more than work. The day comes when they want to save cost , whatever awards or performance I have are useless.
No matter what we are just a pawn for the higher up to use so they can progress.
Sad but true.
indeed the famous saying goes "only your family will remember how late you work"
You should always be keeping your eye out for what else you could be doing. If I was fired tomorrow I already know several places I could apply. Also helps to figure out if your employer is slowly trying to rip you off, which is something that happens to most people.
"Sometimes in life we don't jump, we get pushed" I love that. 💌
Thank you for sharing this wonderful experience.
I am glad you enjoyed it! All the best to you too!
@@9to5MillionaireMindset thank you!
Uttering the comments of many others, this is an absolutely brilliant YT post my friend. You intelligently synthesized the emotional rollercoaster of being unceremoniously fired and the challenge to pivot and persevere.
I've been a business professional for 30+ years, and have been both downsized as well as worked at 2 U.S. firms (in separate decades) that imploded as a result of the largest bankruptcy ever (one is Lehman Brothers). In short, it was not only difficult for many of us to lose our amazing jobs, it was gut-wrenching to watch almost our entire "net worth" evaporate in a matter of days.
Now if that wasn't bad enough - to make matters all my close (work) friends are now literally incapable of being a resource to find a new job.
Good luck folks
Thank you so much for your support and encouragement!
I graduated right after Lehman brothers so I know exactly what you mean. I joined Merrill Lynch right after it was bailed out and acquired by BofA. So many Merrill senior colleagues of mine saw their net worth just disappear. My manager also previously worked 20+ years in Citi and only held Citi shares. When they went from $80 to $0.50, his retirement was basically wiped out.
Just curious, which do you think is worse? the Lehman 08 financial crisis or our current cost of living crisis?
It's also really tough to see your friends being incapable of finding new work. Some of it is controllable (i.e. get new skills), some are not (i.e. companies preferring younger cheaper labor)
All the best to you and your friends in facing what is indeed a challenging moment!
@@9to5MillionaireMindset Thanks for the anecdotal comments. Interesting to see there's some parallel or overlap to our career paths.
Your question: "Just curious, which do you think is worse? the Lehman 08 financial crisis or our current cost of living crisis?"
Answer:
Great question. My opinion. I would say the current (Inflation) crisis is likely much worse, why?
Well I think there are multiple factors at play here.
--> 1) Excess COVID stimulus | 2) The Current Crisis is Pervasive and Larger | 3) The ERA of Ai
1. It appears to be an existential crisis, in that it permeates all of society, and frankly the entire globe - it obviously is a direct result of draconian measures to "arrest the COVID spread". For the better part of 2 years, the largest economies essentially "grinded the gears" to stop the world from spinning (i.e. economies), and substituted organic GDP with a "cash" printing machine. Ergo creating massive "asset bubbles" (e.g. real estate / stocks / crypto / etc.) and (an) economic catastrophe that has not quite reached its apex.
2. The '08 Financial crisis was a sudden and isolated matter. It was somewhat "self-contained" (to major global financial markets) and quickly remediated. After all there was only ONE major corporate failure - Lehman Bros. Perhaps less than 1/1000 of 1% of the globe was impacted long-term . Whereas the current global Inflation Crisis is insidious, pervasive, more complex and several factors larger.
3. We are in the ERA of Ai. This is unlike any technological transformation the world has ever experienced, because by its very nature, Ai's premise is to replace SWATHS of human thinking and to a capabilities. Moreover, Ai will accelerate the disproportionate concentration of wealth. E.g. - Elon Musk today that TESLA will begin the mass production of Humanoids - - > like WTF right!!
From a Labor Market perspective - the advent of Ai is and will be massively consequential for "Service-based" economies such as the U.S., since it's impossible to pivot as the "tech is also pivoting" (acquiring knowledge) concurrently.
So what? Well, I would argue, the sign of a vibrant economy is rising "wage rate" above YoY core CPI (inflation). Macro perspective: as we are seeing today, as more companies PERMAENTLY reduce staff due to significant drops in Revenue OR due to Ai driven efficiencies, it will absolutely have a negative significant impact on wages, which will compel governments to engage in deficit spending to provide financial support to the populace. In effect, resorting to principal catalyst that creating the Cost of Living crisis in the first place, "Printing Money".
Cheers!
Thanks for sharing your in depth analysis. All 3 of your concerns are indeed valid, real and worrying.
It's gonna be a challenging 5-10 years from here on out. Despite these challenges, I am still optimistic that as long as we are hardworking and remain kind, beautiful things will always come our way. We may just have to redefine what work and success look like. If AI is gonna make working unrewarding and unfun, then we simply have to find a new and better game to play and win at.
Take care, and thanks again for discussing this with me with such great details.
Lesson number 1 - always take it personally. It’s the most personal thing they can do to you. They are saying I’ve just taken away your ability to feed your self and your family. I take that personally, so should you. There’s no such thing as- it’s only business. This is normalisation of sociopathic behaviours. I left the city (London) 20 years ago. It was full of too many of these people. I worked in strategic arbitrage for a large company.
I became an artist & sculptor. It was a good life. Less money but more smiles & the people I met were good people. Artists are a crazy bunch. But they are humans. You don’t find many humans the farther up the ladder you go.
Thank you so much for this video. I have just experienced the same path and I can't agree more with you on every single topic you brought up. I wish you had created this year ago, you would have saved me so many difficult moments. Yet, I want to emphasize the friend circle topic. This was the most difficult for me to accept. So many people that where acting as friends and finally they were not...
Thank you for your kind words and for spending time watching my video. I was initially worried and feeling insecure like "who am I to tell people what to do and feel". So your assurance tells me I am on the right track.
And yes I wish I was also told these harsh realities early on because they were not taught in school or talked about at the family dinner table. So one of my goals of creating this channel to spread more awareness about such realities of working.
And yes the friends part is really hard to accept. But it's an opportunity to be kind, everyone is just doing their job and trying their best to take care of their families. Those that stick with you are then a bonus, that you found really good friends ☺️
I was not laid off. But I've had a gut feeling that the company I was working for will do it soon. So what I did was I mustered all my resources back then and launched my own startup while still being employed. Now, I can say it has finally paid off (it has been almost a year since I have left).
That's awesome man we need more people like you showing the rest of the world that it's possible (and sometimes even better) to go do your own thing
I'm sorry to hear this. The higher you climb, the more unstable you are. CEOs earn a lot because of employees' hard work. Always think outside the box, come up with an idea, and bring your idea into reality. You can work for yourself. The harder you work for yourself, the more accomplished you will feel. I have never applied to any company. I don't give my ideas and hard work to CEOs because they will benefit, and the return will be peanuts.
Thanks for the advice and encouragement! I hope to have your success in the future too!
Exactly, how I went through and felt and rationalized by being made redundant and trying to look for a new job which didn’t happen after 2 years-coz I was already at 46 yrs old then in 2016! So I decided to start my ‘FIRE’ even though I didn’t plan to at 46. Thanks for this video-kind of ‘comforting’ to know that u r not alone🥰
Likewise thank you for letting me know I am not alone and crazy enough to feel this way ☺️💪
Thanks for sharing and all the best with your search!!!! The next best job is waiting for you! 🎉
Thank you! I aim to live joyfully! 😉
Huge respect for you to share your learnings. Your explanations are the sharpest, clearest of all experienced losing job without emotions and only logic and sanity. Most importantly I can sense honesty and sincerity from you. Really enjoyed your video.❤
Thank you for saying that! That's exactly the vibe I want to create and share on this channel. I truly believe that as long as we stay hardworking and remain kind, beautiful things will always come our way. All the best to you too!
Thanks for the great video. I've been laid off two times, and your lessons resonated with me.
Thank you very much for this video. I got to know two days back that my name is in the layoff list and haven't been able to sleep since then. I feel confident and positive now.
Sometimes in life you don't jump, you get pushed.
Keep up your confidence, I will be rooting for you.
And when you find your next role, come back here and share the good news with me!
@@9to5MillionaireMindset Certainly ! All the best for you as well !
We can be laid off, but we can never be written off!
@@9to5MillionaireMindset Absolutely true !
Good advise. May you bring your experience to your next job and inject a level of humanity into your work environment. I always believe that it's needed to take care of each other and to balance the voracious appetite of the soulless corporation vs taking care of our fellow man/woman
Thank you for your best wishes. Indeed it's important to always be kind. May I ask what industry are you in? Do people there take care and respect each other?
Thank you for watching as well!
The hard truth is that you did not get the right rapport with your direct manager. And they select you to get retrenched over others.
Its not about performance but it's you are considered not to be your managers boy or maybe you could be threatening your manager position
Great video - This might be shocking for someone not living in North America. We have seen VP with half million salary gotten LAID-OFF overnight and get back into Mid-Level job from the next employer.
This is very common in North America (US / CAN). However thanks for these insights.
Wow thank you for sharing. Do you know what are some of the reasons for that to happen? Is there not enough high paying jobs or is it an age thing?
Here in Singapore it's more common for people with high paying jobs to stay jobless for a long time because 1) these people tend to be older and companies prefer younger and 2) from a "face" perspective people still want to keep the same title and level and not go downwards.
first layoff is always the toughest. The first few things come to mind is why me, what did I do or didn't do. You start to review back the time you employed and try to find an excuse why they selected you. Everything you said is right. Layoff comes down to the company trying to save money. It could be several reasons 1) you are the highest paid on your team 2) you didn't kiss ass to your manager like other members on the team 3) executive need their bonus. I too have seen deadweight was saved from being layoff because they were ass kissers. At the end of the day, you should never blame yourself why they picked you. it comes down to all jobs are replaceable, we are just a number! It does suck to find new job especially you are pressure with children and family to support, and bills to pay. The most difficult is to overcome the mental part.
Musical chairs in primary school helped to prepare us for these situations. Keep your chin up and keep moving forward with your positive attitude, sir!
wow I never thought of musical chairs that way, but now that I think of it, it is a lesson about competition and accepting that sometimes we are at the right / wrong place at the right / wrong time.
Thanks for the advise -- all the best in your future undertakings!
Thank you for your support and thank for watching too. Please share this with your friends if you think they will like it too!
Getting pushed is the best thing that can ever happen to you! Good luck on your journey, sir. Greatness is just around the corner. Thanks for sharing your story with us!! :)
No doubt! Thanks for your confidence! Greatness is upon all of us, we just gotta work for it!
Thank u so much for sharing your thoughts... raw n insightful. Yes, layoffs sucks big time and you need time to overcome it. I had mine in 2012 but fortunate enough to have a helping hand to land the next role within 6 months. I wish you all the best in the next role and you will do great! 🙏
I am glad you found it relevant. And well done on overcoming your own layoff. It's getting so common that it's now a crucial career skill for all of us to have.
You are the definition of resilience! ❤
Thank you that's such a nice compliment to receive!
I had no skills, network, or reputation.
So I started my own business. Best decision ever. Lol.
By the way, sorry about your loss. Don't know how I stumbled upon your video, but I enjoyed it. Take care.
I would argue that because you started your business, you have valuable skills, network, reputation and MORE! Thanks for reminding me there is a life and paths outside working.
Thanks for watching as well, I wish you all the best too!
人走茶涼，人前人後，這種事情我遇多了，當你有能力給別人幫助的時候，會有一堆人來巴結你。After you're gone and needed help, those who still keep in touch and care about you are the real friends.
"人走茶凉" such wise words thank you for your support
Never assume any job is forever. Always be saving and keeping tabs on where you might go next. And make sure while working that you get paid on time.
Good advice on looking out for yourself!