Before anything else: a layoff is a budget decision, not a verdict on your worth. You do not need to have a plan by Friday. You need to protect a few things that are easy to handle now and painful to fix later. Work down this list and then give yourself permission to rest.
1. Take 48 hours before you sign anything
You will likely be handed a separation agreement and asked to sign quickly. You almost never have to sign on the spot. In the US, if you are 40 or older, you are generally entitled to at least 21 days to consider a severance agreement and 7 days to revoke after signing. Ask for the deadline in writing, and use the time.
2. Save everything before access is cut
Company accounts often disappear within hours. While you still have access, capture what is yours to keep:
- Your personal contacts, references, and any non-confidential work samples you are permitted to keep.
- A copy of your most recent reviews, wins, and metrics, the raw material for your resume.
- Your benefits and payroll documents, plus the HR contact who can answer questions next week.
- Forward anything you need to a personal email before your accounts are deactivated.
Only take what is genuinely yours. Confidential data, customer lists, and proprietary code stay behind. The goal is your own record, not risk.
3. Map your runway in real numbers
Anxiety thrives on vagueness. Replace it with a number. Add up your savings plus any severance, then divide by your real monthly spend. That figure, how many months you have, is the single most useful thing you can know this week. It tells you whether you are negotiating from comfort or urgency, and it makes every later decision less abstract.
If you would rather not build the spreadsheet, Offboard's Financial Runway Calculator does it for you. Enter savings, severance, and monthly expenses and it shows the months you have left, all calculated privately in your browser, with no AI and nothing shared.
4. File for unemployment now
File in your state the week you are let go, even if you received severance. Benefits can take weeks to start, and in many states a layoff qualifies you regardless of severance. Waiting only delays money you are entitled to.
5. Decide what happens to health coverage
Find out exactly when your current coverage ends. Then compare your options before the deadline: COBRA continuation, a spouse or partner's plan, or a marketplace plan (a job loss opens a special enrollment window). COBRA is often the most expensive path, so price the alternatives before defaulting to it.
6. Tell a small circle, then pause the announcement
Let a few trusted people know early, the ones who will think of you when they hear of a role. You do not need a polished public post in week one. Word of mouth from people who know your work moves faster than a broadcast, and you can announce more widely once you have your footing.
What can wait until week two
- Rewriting your whole resume, do the outcomes capture above first, polish later.
- Applying to dozens of roles, a scattered week-one spray rarely lands.
- Big career-pivot decisions, make those with a clear head and a known runway.
Handle the protective list, then stop. A sustainable search is a marathon, and the people who land well are usually the ones who did not burn out in the first week trying to do everything at once.