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November 28, 2007
As people head off on vacation, the torrent of phone calls and e-mails slows to a trickle and water-cooler conversation turns to office parties instead of earnings forecasts.
But don't let the merrymaking lull you into a false sense of security, warns career coach Cynthia Shapiro, because the holidays are also a season for layoffs.
4TH-QUARTER LAYOFFS IN TEXAS
Mass layoffs for all industries, according to the Bureau of Labor Statistics.
Year October November December Total
2001 110 108 89 307
2002 80 121 69 260
2003 70 66 51 187
2004 55 58 40 153
2005 38 25 50 113
2006 18 37 61 116
2007 30
"A huge amount of people are blindsided by job loss around the end of the year," says Ms. Shapiro. In fact, you're around 50 percent more likely to lose your job in the fourth quarter than at any other time of year, according to the Bureau of Labor Statistics.
It isn't unusual for companies to find they are operating at a loss by November and December, Ms. Shapiro says. Having layoffs at the holidays helps companies cut costs and clean up the books before the next year starts.
The lesson? "You need to go into the holiday season with eyes wide open," she says.
If you fear your job is in jeopardy this holiday season, don't despair. "The holidays are the second-busiest hiring season of the year," says Ms. Shapiro, so it's a good time to look. But it's important to start immediately, because come January, the market will be saturated with job seekers.
Marshall Loeb, MarketWatch
WARNING SIGNS
Here are four signs that your company could be in trouble:
• Last year's substantial bonus is drastically cut or disappears.
• Your company replaced last year's lavish shindig with a lunchroom potluck.
• Leases on office equipment are allowed to expire or the company starts pinching pennies on office supplies.
• A hiring or wage freeze is announced.
WHAT TO DO
If you've witnessed one or more of those changes at your office, it's time to take stock. Is your job likely to be affected? Consider these criteria, Ms. Shapiro says:
• Employees who don't get along well with their supervisors have reason to worry, as bosses sometimes use layoffs as an opportunity to get rid of people who've been a thorn in their sides.
• When a company is on the way down, it's easy to be critical. But don't succumb to temptation – companies are quick to weed out disgruntled employees because they tend to think bad attitudes are contagious.
• If you've cost the company money in workers' compensation or sexual harassment claims, management may be eager to offload you.
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