Potential Layoff - what actions to take?

[OldSport]

My company just announced potential layoffs. What all would you consider doing at this time? What actions would you take?

I like my company and very much want to stay working where I am if possible. I want to maximize my ability to remain employed while also maximizing my ability to be "employable" elsewhere if needed.

I noticed that this situation tends to bring out some undesirable/selfish behavior in coworkers. Any books/resources on how to deal with that with a goal of keeping my job, while also preparing for the possibility if a layoff. Thanks.

[oilrig]

Theres not much you can do other than brush up your resume, start applying for other jobs asap, start saving more cash, keep your head down, and hope for the best! I know you dont want to leave your current company, but its better to have a back up plan (other job offer) in case you do get laid off.

[Caliscotsman]

Brush up your resume.
Negotiate as big a severance as possible.
Have a vacation. Reassess.
Find another job.

I know it's no fun but if you've got wind of it the decision probably has been made either way.

(I think I had 10-15 jobs between Europe and the USA before I became a millionaire.)

[BogleTaxPro]

Brush up your resume and start collecting contact information for anyone you want to stay in touch with.

Be nice and helpful to everyone, no matter what your co-workers are doing. The decision as to who to layoff is nowadays based on crossing off boxes on an org chart regardless of who's in them. But being nice and helpful will get you ahead if there's opportunities to transfer, or if your co-workers end up at another company where you're potentially interviewing. And by everyone, I've found that you never know who might be in a position to help you...and it might be someone you wouldn't have expected.

[lekking]

I would try to use up your benefits just in case you are laid off. For example, money left unused in your FSA goes to your employer after you lose your job unless you choose COBRA continuation coverage of your FSA. Even if you're able to continue your FSA with COBRA, your FSA money can't be used to pay for monthly COBRA health insurance premiums. Commuter benefits are sometimes surrendered as well.

[Hacksawdave]

In my case, I already had a transition plan put together and met the rule of 55 when the wheels went in motion. I went along for the ride and received the package. Best promotion they ever gave me.

What you should do depends on age and the point you are at in your working years. If you are planning on continuing working, the prior post suggestions meet the basics. As I recommended to the younger set during my time, get a new job while you have one. Being laid off is a negative to prospective new employers.

Since the company made what sounds like the formal announcement, they already have an idea who is on the A list and who is not. There are no books I know of to persuade one’s way out of a layoff. Just continue normal day-to-day efforts as nothing is going on and look for the new employer.

If you are leaning the other way of potentially calling it quits, you will receive more feedback based in that direction if you like.

[student]

How old are you? Is retirement a possibility?

[KlangFool]

I like my company and very much want to stay working where I am if possible.

But, your employer may not survive in the coming recession.

KlangFool

[stan1]

I like my company and very much want to stay working where I am if possible.

But, your employer may not survive in the coming recession.

KlangFool

Is this a specific coming recession, or just a general recession because there's always a next one?

[KlangFool]

I like my company and very much want to stay working where I am if possible.

But, your employer may not survive in the coming recession.

KlangFool

Is this a specific coming recession, or just a general recession because there's always a next one?

In any recession. many companies gone out of business. There is no guarantee that our employers can stay in business. So, someone may wish to stay with current employer but it may not be a good thing. The employer could be a sinking ship. If someone get out earlier, they can get better severance pay and avoid the rush for job opportunities.

I will be laid off in a few week along with thousands of my co-workers. But, the expectation is we will be the first and smaller batch to be laid off. The larger batch with smaller severance benefits will occur in the next few months. The worst is yet to come.

KlangFool

[manuvns]

increase cash cushion to 12 month of expenses , apply for unemployment , take up side hustle , buy term life insurance if needed , look for jobs , cut your expenses .

[Watty]

If you have a healthcare flexible spending account then use that all up since you do not need to pay back any surplus payment.

For example if you put $100 a month into a FSA and you have contributed $800 so far this year you can get reimbursed for something like a $1200 dental expense and if you are laid off(or quit) you do not need to pay back the additional $400.

This is the flip side of the "use it or lose it" rule where if you have only used $500 and are terminated you will not get the other $300 back.

Print off things like performance reviews from the employers web site because you may not have access to that after you are terminated.

Clean out your desk or locker. If you are terminated you may be escorted to the door and they will go through your desk or locker and mail you any personal stuff.

[stan1]

Have contact information for your network of co-workers. People who know your skills and work ethic can be a good way to help you find your next job.

[SmileyFace]

I don't know what industry you are in but in mine everything happens on linkedin these days.
If true for you - in addition to your resume - fix up your linkedin profile and make sure you are connected to everyone you know on linkedin that might help if you are part of the layoff.

[techbud]

This book (unfortunately out of print) is very useful in providing guidance on how to negotiate a severance package: https://www.amazon.com/Fired-Downsized- ... 0805060847

[OldSport]

Thanks for the responses. My situation is a bit unique. My company hasn't yet announced the specific layoff details, but that a major restructuring is around the corner that will result in job losses.

Based on what I understand: there is a < 10% chance I will get laid off this year. This is a ~25-30% chance I will get laid off by end of next year, likely late next year. This is a ~50% chance I will get laid off in the next 3-5 years.

But the interesting thing about this layoff, is that it's a restructuring/layoff change in strategy. If I can shore up both hard and soft skills, I will be able to reduce my chance of getting laid off. Possibly significantly so. I'm already reading some books. I have a game plan for the hard technical skills, but could benefit from guidance in the non technical skills.

If I "strike out", I want to strike out swinging, leaving nothing on the table and better and more experienced for the future.

Hard skills I know what to do. Regarding the difficult coworkers, I think they're stressed about the situation, but the handful of more narcissistic ones like to throw people under the bus, so if there are any books with a sliver of knowledge on how to dodge/deflect that while staying "upper loop", or course that is welcome as part of the overall advice package. Would "Crucial Conversations" or "Never Split the Difference" be helpful at all, or are there better books?

I'll plan to polish up the resume and ramp up networking, but I'm not yet ready to look externally. I like where I'm at, at least for the time being.

I also don't want to voluntarily resign, unless I get an out of this world offer. Those are few and far between nowadays. Getting laid off would come with a generous severance package, vesting options, and prorated bonus, that all would be forfeited if I voluntarily resigned.

Finances are OK. I'm NOT ready to retire, financially or psychologically. My spouse works and has full family benefits, but the reduced salary would be life-changing that we'd be living a Lean FIRE existence to get by, and have to severely cut back on discretionary expenses. We would be living paycheck to paycheck and unlikely to save much at all, but we would not need to tap into existing savings. We also have 18 months emergency funds in 3 tiers of 6 month each emergency funds.

[KlangFool]

I'll plan to polish up the resume and ramp up networking, but I'm not yet ready to look externally. I like where I'm at, at least for the time being.

OldSport,

Update your LinkedIn profile.

KlangFool

[samsoes]

.
I noticed that this situation tends to bring out some undesirable/selfish behavior in coworkers.

When my old megacorp went into.layoff mode back in the day I was shocked at the behavior of people I knew for decades. There was regular underhanded back-stabbing, blame-shifting and things of that sort. The place had turned into a police state with co-workers turning on each other and throwing others "under the bus" in attempts at self-preservation. Very unpleasant.

[Scubadude]

I like my company and very much want to stay working where I am if possible.

But, your employer may not survive in the coming recession.

KlangFool

Kinda dark..but may be true. Idk ?

[KlangFool]

I like my company and very much want to stay working where I am if possible.

But, your employer may not survive in the coming recession.

KlangFool

Kinda dark..but may be true. Idk ?

"But the interesting thing about this layoff, is that it's a restructuring/layoff change in strategy."

A) If everything is going well, then, restructuring and change in strategy is not necessary.

B) The change in strategy may not work out at all.

KlangFool

[learning30]

1. Resume

2. Apply like crazy

3. Reach out to a lot of your former colleagues, friends, etc. to ask about their role and learn about their company.

3. Be ready to provide your resume to them so they can refer you if there's an opening.

I did this for a former colleague of my fiance a few weeks ago. She ended up getting hired. I have never met her. Things just happen if you put yourself out there.

[KlangFool]

Based on what I understand: there is a < 10% chance I will get laid off this year. This is a ~25-30% chance I will get laid off by end of next year, likely late next year. This is a ~50% chance I will get laid off in the next 3-5 years.

OldSport,

A) My employer is going through a major restructuring. I volunteered to be laid off. But, I am financially independent. So, this is a good way to be paid to leave.

B) Once, I survived 80% laid off over 5 1/2 years. The stress and strain on me was so unbearable that after I was laid off, I was so happy and relief.

C) I have been through this kind of stuff too many times. So, it is not necessary a blessing not being laid off. The stress and strain on those remained as tremendous.

D) Good luck!

KlangFool

[CaptainT]

I would look up your state and WARN laws . Many states have a public list and tells you how many people approximately and when.

If you have heard rumors you are likely on the cut list act like it. Update resume ,start applications, get contact info, keep working hard to both keep reputation great and decrease chance of cut

[nisiprius]

If you have a lot of personal items in your office, start bringing home any that don't need to be there.

Exchange contact information with as many co-workers as possible.

Start orienting yourself on how unemployment benefits work in your state.

Layoffs sometimes come in waves, e.g. at six-month intervals (I don't mean anything predictable). If you escape this one, be braced for the possibility of more later. Still go ahead working on your résumé, etc. because your employer may turn around and stabilize but don't count on it. Every layoff creates disruptions in the workflow for the rest of the company, which interferes with customer service which leads to loss of customers which leads to loss of revenue which leads to more layoffs. And there's a "fickle finger of fate" quality to who gets laid off. You may be doing a great job for the manager of some product line, but the higher-ups might decide to can that product line, for example. In one job, I survived about four layoff before the fifth one got me. Not fun.

[Longdog]

For the first round of layoffs, I don't think there's anything you can do at this point. You indicated you believed there was a 10% chance of you getting cut in this round. I presume you'll know soon enough. If you do make it through that round, then to minimize your chance of getting laid off in future rounds you need to make yourself valuable to the company. Make yourself visible to managers across the company, become an expert on something important to the future of the company, and offer up your expertise willingly even across organizations if that makes sense. Learn what the business strategy is going to be, and what behaviors they are looking for in their employees. If you feel you can happily meet those behaviors, then do so. However, once major restructurings and layoffs begin in a company, it is rarely a "one and done" type of thing, and those layoffs and restructurings take a toll on employee morale and start to change the culture of the company - everybody remaining is adjusting to the new reality that the company, in its current form, is not going to last forever and they're trying to preserve their own job in what they perceive will be the new company. Many employees may be expected to take on a higher workload to compensate for the lost employees. It can be a stressful situation, and trigger unpleasant behavior in employees. You may find that you don't like what the company is becoming and may want to seek opportunities elsewhere. Or you could fit in well with the new culture and new company strategy.

Best of luck in preserving your current position and in riding out whatever comes next!

[toomanysidehustles]

I like my company and very much want to stay working where I am if possible.

But, your employer may not survive in the coming recession.

KlangFool

Is this a specific coming recession, or just a general recession because there's always a next one?

Certain industries have been in a recession for some time already.

[ETK517]

I get that you like where you work now, but you should strongly consider the likelihood that you will no longer enjoy working at a company that due to poor financial performance or other issues has laid off many of your colleagues and/or that has significantly changed its business strategy. What do you like about it and what makes you think that will survive a major restructuring?

[Billionaire]

Up your game at your current job. Start coming in early/staying late. Take on more work. Ask your supervisors to give you more responsibility. Typically what happens when layoff waves start circulating, your co-workers will start gossiping non-stop about the layoffs. They'll be doing less work than they normally do. Morale will plummet. Don't be that person. Show management your ability to work under the threat of bad news.

[KlangFool]

Up your game at your current job. Start coming in early/staying late. Take on more work. Ask your supervisors to give you more responsibility. Typically what happens when layoff waves start circulating, your co-workers will start gossiping non-stop about the layoffs. They'll be doing less work than they normally do. Morale will plummet. Don't be that person. Show management your ability to work under the threat of bad news.

Then, your supervisor and his/her boss was laid off too. All that you had done for them gone to waste. Their replacement prefer their own people.

In summary, your only job security is "next job security". Your capability to find the next job. Build up your credential and capability that are useful to all employers. Brownie points with current management only works when the current management survived the next few rounds of laid off.

Do your job and always do a good job. But, don't assume that taking on extra stuff and earning brownie point amount to something. In some cases, by doing others' job, you may be stepping on someone's toes unintentionally. Then, you are making more enemies in the wrong time.

KlangFool

[Billionaire]

Up your game at your current job. Start coming in early/staying late. Take on more work. Ask your supervisors to give you more responsibility. Typically what happens when layoff waves start circulating, your co-workers will start gossiping non-stop about the layoffs. They'll be doing less work than they normally do. Morale will plummet. Don't be that person. Show management your ability to work under the threat of bad news.

Then, your supervisor and his/her boss was laid off too. All that you had done for them gone to waste. Their replacement prefer their own people.

In summary, your only job security is "next job security". Your capability to find the next job. Build up your credential and capability that are useful to all employers. Brownie points with current management only works when the current management survived the next few rounds of laid off.

Do your job and always do a good job. But, don't assume that taking on extra stuff and earning brownie point amount to something. In some cases, by doing others' job, you may be stepping on someone's toes unintentionally. Then, you are making more enemies in the wrong time.

KlangFool

Says the person who expects to be laid off in the coming weeks and spends a portion of the work day responding to forum threads. SMH.

[KlangFool]

Up your game at your current job. Start coming in early/staying late. Take on more work. Ask your supervisors to give you more responsibility. Typically what happens when layoff waves start circulating, your co-workers will start gossiping non-stop about the layoffs. They'll be doing less work than they normally do. Morale will plummet. Don't be that person. Show management your ability to work under the threat of bad news.

Then, your supervisor and his/her boss was laid off too. All that you had done for them gone to waste. Their replacement prefer their own people.

In summary, your only job security is "next job security". Your capability to find the next job. Build up your credential and capability that are useful to all employers. Brownie points with current management only works when the current management survived the next few rounds of laid off.

Do your job and always do a good job. But, don't assume that taking on extra stuff and earning brownie point amount to something. In some cases, by doing others' job, you may be stepping on someone's toes unintentionally. Then, you are making more enemies in the wrong time.

KlangFool

Says the person who expects to be laid off in the coming weeks and spends a portion of the work day responding to forum threads. SMH.

A) The same person that won multiple employee awards by their peers as the best team player and then laid off. Meanwhile, the non-team players get to keep their jobs.

B) The same person that survived 80% laid off across 10+ rounds of laid off over 5 1/2 years.

KlangFool

[Caliscotsman]

You're just a number.
You are not a free man!

[Hacksawdave]

B) The same person that survived 80% laid off across 10+ rounds of laid off over 5 1/2 years.

Sounds familiar. Survived the 1980-82 double dipper, post 87 crash, 88 "downsizing/rightsizing", 89-92 S&L crisis, 94 rate hikes, 97 and 98 hiccups, 2000-2002 dotcom bust, 06 slowdown, 08-10 GFC and too many restructures and reorgs in between to count. Finally got caught in outsourcing in 2019.

Teflon can only last through so many washes.

[Dottie57]

OP,

Get your resume updated. Make sure you update it every 6 mos or so. Document your achievements on a continuous basis. Figure out what you want to do next. In other words do what I didn’t. Moving to a new job can be great.

[Dottie57]

Brush up your resume and start collecting contact information for anyone you want to stay in touch with.

Be nice and helpful to everyone, no matter what your co-workers are doing. The decision as to who to layoff is nowadays based on crossing off boxes on an org chart regardless of who's in them. But being nice and helpful will get you ahead if there's opportunities to transfer, or if your co-workers end up at another company where you're potentially interviewing. And by everyone, I've found that you never know who might be in a position to help you...and it might be someone you wouldn't have expected.

Echoing this. A former co-worker abruptly left my employer. He was a jerk to work with. A year after he left he started calling looking for leads on potential jobs. He got nowhere because he had been a jerk.

P.S. he insisted I had to know of opportunities. Jerk.

[one_speed]

In addition to all the good advice upstream, you may wish to do research on whether is is a Company problem, or an Industry problem.

If it's an Industry problem consider what you'd like to do next.

[whodidntante]

There's some truth to the statement that "you're only as secure as your ability to get your next job." Work to develop a career identity that is portable/transferable to a different company.

[KlangFool]

There's some truth to the statement that "you're only as secure as your ability to get your next job." Work to develop a career identity that is portable/transferable to a different company.

A small addition.

or another industry. The whole industry could be in a permanent decline too.

KlangFool

[bluebolt]

If you have a healthcare flexible spending account then use that all up since you do not need to pay back any surplus payment.

Not just your FSA, consider your health insurance as well - If you have already met your health plan deductible, you may want to schedule doctor appointments and/or refill prescriptions.

[SmileyFace]

Where did you get your safety statistics from?
The last larger company I was at did a layoff and all decisions where made using an external consultant and spreadsheets. Only the top executives knew ahead of time who was being let go. It was not like other layoffs where I, as a leader, participated (in making actual decisions - or at least in developing stacking rankings and other data for those making decisions). There seemed to be no rationale and the methodology was never shared. Some of my highest performers where let go - presumably because their salaries were (justifiable) slightly higher than their peers. I left the company but have heard several companies are now doing this.
The lesson here is it may not matter how highly rated your performance is or what your leader thinks of you. Your role may be eliminated for other reasons (that even your boss won't understand). Or your entire department could be dismissed (seen this happen to).
So - as a few smart folks have said - security is best measured by how prepared you are for job loss in riding out a period of unemployment and securing your next position.
That isn't to say that you shouldn't continue to perform strongly if you want to ride it out and stick around.

[KlangFool]

Where did you get your safety statistics from?
The last large company I was at did a layoff and all decisions where made using an external consultant and spreadsheets. Only the top executives knew ahead of time who was being let go. It was not like other layoffs where I, as a leader, participated (in making actual decision - or at least in developing stacking rankings and other data for those making decisions). There seemed to be no rationale and the methodology was never shared. Some of my highest performers where let go - presumably because their salaries were (justifiable) slightly higher than their peers. I left the company but have heard several companies are now doing this.
The lesson here is it may not matter how highly rated your performance is or what you leader thinks of you. Your role may be eliminated for other reasons (that even your boss won't understand). Or your entire department could be dismissed (seen this happen to).
So - as a few smart folks have said - security is best measured by how prepared you are for job loss in riding out a period of unemployment and securing your next position.
That isn't to say that your shouldn't continue to perform strongly if you want to ride it out and stick around.

+1,000. For the previous round of laid off, my director was told who being laid off last minute after the decision had been made by higher up.

For this round of laid off, the decision is being made beyond my director too.

KlangFool

[LotsaGray]

In my experience at a megacorp there were two types of lay offs. There were the union or similar hourly. These lay offs were almost always by seniority within a class. So nothing you can do to ‘save’ your job

Then there were the staff positions, in my case, professional positions. Again, by the time layoffs are announced, things are mostly set. The positions to cut are prolly decided. Your frontline supervisor prolly knows nothing, may even get cut himself. If he survives, will likely be handed a list of names from HR and leadership one or two levels above him. If he wants to change a name he will likely need to make a case. To switch two names of his reports, that case need not be terrific. Now to ‘save’ someone wo a swap, iow someone in another dept has to be added to that list or a whole position added back, will require a serious major case. BTW, the higher up the org you are, the less likely you can get of the list

TLDR, more than likely the who goes is already decided. Nothing you can do at this point. Maybe some edge cases are different. But I would just try to do the best I can and stay positive. The under handed stuff some people do is actually likely to hurt them more than help. Good bosses are looking for such behavior and it is exactly what they will use AGAINST them if they want to swap a name.

Now outside of doing a good job, assume you will get layed off. Save cash, trim expenses, build up emergency fund. Your toughest choice for you is starting a job search. You can’t do that until you are willing to change jobs. Unlikely you can get an offer and tell them, we’ll give me X weeks and I will give you my decision. But at least get the resume updated and strat calling contacts to let them know you might be looking.

[Afty]

Where did you get your safety statistics from?
The last larger company I was at did a layoff and all decisions where made using an external consultant and spreadsheets. Only the top executives knew ahead of time who was being let go. It was not like other layoffs where I, as a leader, participated (in making actual decision - or at least in developing stacking rankings and other data for those making decisions). There seemed to be no rationale and the methodology was never shared. Some of my highest performers where let go - presumably because their salaries were (justifiable) slightly higher than their peers. I left the company but have heard several companies are now doing this.
The lesson here is it may not matter how highly rated your performance is or what you leader thinks of you. Your role may be eliminated for other reasons (that even your boss won't understand). Or your entire department could be dismissed (seen this happen to).
So - as a few smart folks have said - security is best measured by how prepared you are for job loss in riding out a period of unemployment and securing your next position.
That isn't to say that your shouldn't continue to perform strongly if you want to ride it out and stick around.

I've seen the same thing in my industry, where mass layoffs were performed by upper executives based on spreadsheets and metrics, without any input even from directors managing teams of hundreds of people. I'd advise not to focus too much on not getting laid off at this point, but to prepare in case it happens and you lose access to internal systems with no warning.

Make sure you can contact your coworkers outside of work (LinkedIn or personal contact info). Update your resume with recent project information and impact metrics. Focus on building transferrable skills. Maybe start applying elsewhere.

[heywhoathere]

Up your game at your current job. Start coming in early/staying late. Take on more work. Ask your supervisors to give you more responsibility. Typically what happens when layoff waves start circulating, your co-workers will start gossiping non-stop about the layoffs. They'll be doing less work than they normally do. Morale will plummet. Don't be that person. Show management your ability to work under the threat of bad news.

Provided OP isn't in upper management, the people compiling "the list" of who gets laid off probably don't even know OP exists beyond being a line on a spreadsheet (if that). Killing yourself for brownie points sounds like a great way to burn yourself out and then get laid off anyway once the hatchet men come.

I've been through dozens of rounds of layoffs at multiple companies and there's extremely little correlation between performance and who gets laid off.

My company just announced potential layoffs. What all would you consider doing at this time? What actions would you take?

IME "potential" layoffs just means they haven't decided how many people to layoff and when. I'd start planning my potential exit in your position.

[snowday2022]

If you have a lot of personal items in your office, start bringing home any that don't need to be there.

Exchange contact information with as many co-workers as possible.

Start orienting yourself on how unemployment benefits work in your state.

Layoffs sometimes come in waves, e.g. at six-month intervals (I don't mean anything predictable). If you escape this one, be braced for the possibility of more later. Still go ahead working on your résumé, etc. because your employer may turn around and stabilize but don't count on it. Every layoff creates disruptions in the workflow for the rest of the company, which interferes with customer service which leads to loss of customers which leads to loss of revenue which leads to more layoffs. And there's a "fickle finger of fate" quality to who gets laid off. You may be doing a great job for the manager of some product line, but the higher-ups might decide to can that product line, for example. In one job, I survived about four layoff before the fifth one got me. Not fun.

Curious what you mean about the personal items. Would those not be returned to the employee at the time of layoff?

[KlangFool]

If you have a lot of personal items in your office, start bringing home any that don't need to be there.

Exchange contact information with as many co-workers as possible.

Start orienting yourself on how unemployment benefits work in your state.

Layoffs sometimes come in waves, e.g. at six-month intervals (I don't mean anything predictable). If you escape this one, be braced for the possibility of more later. Still go ahead working on your résumé, etc. because your employer may turn around and stabilize but don't count on it. Every layoff creates disruptions in the workflow for the rest of the company, which interferes with customer service which leads to loss of customers which leads to loss of revenue which leads to more layoffs. And there's a "fickle finger of fate" quality to who gets laid off. You may be doing a great job for the manager of some product line, but the higher-ups might decide to can that product line, for example. In one job, I survived about four layoff before the fifth one got me. Not fun.

Curious what you mean about the personal items. Would those not be returned to the employee at the time of layoff?

For example, your family photo in a picture frame.

KlangFool

[Wannaretireearly]

B) The same person that survived 80% laid off across 10+ rounds of laid off over 5 1/2 years.

Sounds familiar. Survived the 1980-82 double dipper, post 87 crash, 88 "downsizing/rightsizing", 89-92 S&L crisis, 94 rate hikes, 97 and 98 hiccups, 2000-2002 dotcom bust, 06 slowdown, 08-10 GFC and too many restructures and reorgs in between to count. Finally got caught in outsourcing in 2019.

Teflon can only last through so many washes.

That is some seriously impressive teflon survival!

[Northern Flicker]

Don't add to your anxiety by trying to project your odds of being laid off 3-5 years out. There will be a lot of water under the bridge between now and then.

Keep your head down, do your best work, update your resume and/or LinkedIn profile, and start accumulating LinkedIn connections with colleagues before they scatter after any layoffs, so you don't lose touch with them.

[Olemiss540]

Thanks for the responses. My situation is a bit unique. My company hasn't yet announced the specific layoff details, but that a major restructuring is around the corner that will result in job losses.

Based on what I understand: there is a < 10% chance I will get laid off this year. This is a ~25-30% chance I will get laid off by end of next year, likely late next year. This is a ~50% chance I will get laid off in the next 3-5 years.

But the interesting thing about this layoff, is that it's a restructuring/layoff change in strategy. If I can shore up both hard and soft skills, I will be able to reduce my chance of getting laid off. Possibly significantly so. I'm already reading some books. I have a game plan for the hard technical skills, but could benefit from guidance in the non technical skills.

If I "strike out", I want to strike out swinging, leaving nothing on the table and better and more experienced for the future.

Hard skills I know what to do. Regarding the difficult coworkers, I think they're stressed about the situation, but the handful of more narcissistic ones like to throw people under the bus, so if there are any books with a sliver of knowledge on how to dodge/deflect that while staying "upper loop", or course that is welcome as part of the overall advice package. Would "Crucial Conversations" or "Never Split the Difference" be helpful at all, or are there better books?

I'll plan to polish up the resume and ramp up networking, but I'm not yet ready to look externally. I like where I'm at, at least for the time being.

I also don't want to voluntarily resign, unless I get an out of this world offer. Those are few and far between nowadays. Getting laid off would come with a generous severance package, vesting options, and prorated bonus, that all would be forfeited if I voluntarily resigned.

Finances are OK. I'm NOT ready to retire, financially or psychologically. My spouse works and has full family benefits, but the reduced salary would be life-changing that we'd be living a Lean FIRE existence to get by, and have to severely cut back on discretionary expenses. We would be living paycheck to paycheck and unlikely to save much at all, but we would not need to tap into existing savings. We also have 18 months emergency funds in 3 tiers of 6 month each emergency funds.

So your spouse can cover most expenses and health insurance? AND you have an 18 mo emergency fund that would cover 18 mo of family expenses?

Sounds like you are in a pretty great position to ride it out if you are so inclined and are expecting a good package if/when you are laid off. Good job being so prepared financially and good luck on your work trying to keep your current role.