Being downsized can feel like a shock to the system. Whether you’ve been with a company for years or only a few months, losing your job through no fault of your own can stir up a mix of emotions—fear, confusion, anger, and maybe even relief. While it’s perfectly normal to feel uncertain, it’s important to remember that this moment doesn’t define your career. What you do next is what matters most.

Here’s a practical guide to help you navigate the days, weeks, and months after being downsized.

1. Allow Yourself Time to Process the News

First, it’s essential to take a moment to process what has happened. Being downsized isn’t personal, but it can feel like it. It’s normal to grieve for the loss of routine, colleagues, and your position. Take the time to reflect and understand your emotions before you dive into action.

While you may feel an urge to jump straight into job searching, giving yourself a brief period to absorb the news will allow you to approach the next steps with clarity and renewed energy.

2. Understand Your Financial Situation

One of the first practical steps you need to take is understanding your financial situation. Review your severance package, unemployment benefits, and any other financial resources you may have access to.

• Severance: Know how much severance you’re entitled to, when it will arrive, and whether or not it includes health insurance or other benefits.
• Unemployment: Each province, state or country has different processes, so familiarize yourself with the rules in your location.
• Budgeting: Rework your budget to manage your finances during this transitional period. Cut non-essential expenses where possible and plan for a few months of lower income, if necessary.

This is a time to be proactive about your financial security while transitioning to your next opportunity.

3. Update Your Resume and LinkedIn Profile

Once you’ve taken a breather and assessed your financial situation, it’s time to update your resume and LinkedIn profile. Even though being downsized may feel like a setback, it doesn’t mean you don’t have valuable experience to offer.

• Highlight Your Achievements: Focus on your accomplishments during your tenure at the company. Quantify your successes with numbers and statistics to show the impact you made.
• Skill Development: Think about the skills you gained during your time at the company, whether technical or soft skills, and make sure those are clearly highlighted on your resume and profile.
• Tailor to New Roles: Tailor your resume to the roles you’re interested in. Use keywords from job descriptions to ensure your resume is optimized for applicant tracking systems (ATS).

Having an up-to-date resume and LinkedIn profile is crucial to getting noticed by recruiters and hiring managers.

4. Network and Reach Out to Contacts

Don’t underestimate the power of your network. Reach out to colleagues, former coworkers, and industry contacts who can offer support, advice, or even job leads. Networking doesn’t always mean immediately asking for a job; it can also mean getting advice, mentoring, or guidance from those who understand your industry.

• Reconnect: Send personalized messages to connections and let them know about your situation. Be open to conversations and see where they might lead.
• LinkedIn: Use LinkedIn to reconnect with old contacts, join industry groups, and stay active on the platform. Share updates about your situation (without oversharing) and let others know you’re seeking new opportunities.
• Informational Interviews: Set up informational interviews to learn more about potential employers and industries you might want to explore.

Networking is often the key to discovering job opportunities that aren’t advertised publicly, and can also help you learn about trends in your industry.

5. Consider Upskilling or Reskilling

If your industry is changing, or if you want to make a career shift, now is the perfect time to upskill or reskill. Many online platforms offer courses in everything from coding to project management to leadership development. Taking courses can:

• Improve your marketability: Adding new skills to your resume shows potential employers that you’re adaptable and eager to learn.
• Open up new opportunities: If you’re interested in switching industries, acquiring new skills can make you a competitive candidate in a new field.
• Increase confidence: Learning something new can also boost your morale and help you feel more in control of your career.

6. Consider Temporary or Freelance Work

If you need immediate income or want to keep busy while searching for a full-time role, consider freelancing or temp work. Many industries have short-term contract opportunities that allow you to gain experience, expand your network, and even land permanent positions.

Freelance platforms like Upwork or Fiverr, as well as temp agencies, can connect you with employers seeking temporary help in your field.

Even if these roles aren’t permanent, they can provide a sense of stability during your job search.

7. Stay Positive and Resilient

Lastly, maintain a positive outlook and stay resilient. A job loss, especially an unexpected one, can be tough. But remember, you have been through challenges before and emerged stronger. It’s easy to fall into feelings of discouragement, but take small, actionable steps each day to keep moving forward.

Celebrate the small wins: updating your resume, making a new connection, or securing an informational interview. Keep your long-term vision in mind, and know that this chapter, while difficult, will eventually lead to a new opportunity.

Final Thoughts

Being downsized is undoubtedly a difficult experience, but it’s also an opportunity to reevaluate your career, broaden your skills, and explore new paths. The most important thing is to take one step at a time. Prioritize your emotional and financial well-being, update your job search materials, and tap into your network. With a strategic approach, resilience, and patience, you will find the right opportunity that leads to your next career chapter.

Remember, you’ve got this. Keep going, and the right opportunity will come when the time is right.