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Jumat, 30 Juli 2010

What Do Layoffs Mean in the Job Market Today?

By : Erin Kennedy

Layoffs. Layoffs. Layoffs. Earlier this year, layoffs was the only word we were hearing. Most people read the news and thought: "Oh great, more people to compete against me when there already aren't enough jobs." They were right.

Not so fast, though. Those same people missed something few people realize about layoffs. Layoffs do not mean that jobs are getting cut. Some companies hire when they fire. As a result, a company that just laid off thousands of employees can be a great place to job search.

My job search advice for you is simple: don't ignore media reports about layoffs. Print them, clip them and save them.

Layoffs don't mean "Not Hiring"People often assume that a company that lays off employees is not hiring. Sometimes that is the case. However, more often than not, those companies made the layoffs not only for cutbacks but to get better, younger (see: cheaper) or healthier employees to address bottom-line concerns. The companies also want to weed out weak talent under the guise of "budget cutbacks."

Additionally, a company may be firing to reduce bloated departments and hiring to expand short staffs in growth areas. Tough times mean a company cannot afford to support under-producing departments. That's been what happened with the newspaper industry. Large staffs rife with unnecessary employees were reduced as profit margins shrunk. The change simply means more competition in the job search and a greater emphasis on top-tier employees.

Read about layoffs

I admit I closed my browsers or shut the newspaper when I saw another report of layoffs. Layoffs were hard to escape last year especially with struggles in the American automobile industry.

If you're searching for a job, ignoring media reports on layoffs can be a missed opportunity on the level of missing out on a soaring stock. Studying up on layoffs gives you companies to target. If you target these companies, there is a chance they will hear you out. Use the layoffs as motivation. You can take layoffs as a reason to ramp up your job search. If you know these companies are expecting top-tier talent, then you know what you need to deliver.

Job Search 101: study layoff history

I'd encourage anyone to look at old news reports in their job search. If a company laid off thousands of employees a year ago, then more than likely they will want to hire now that the recession seems to improving. They will not replace all those old jobs, but there will be jobs for the taking, and your skills may be a better fit than even you know.

Also, send your resumes, cover letters and feelers out to these companies. They will hire at some point and if you make the effort during the downturn, a good first impression will make you memorable for when they do hire.

Additionally, don't wait for these companies to post job openings on the Internet. It's a sad truth that most jobs are already filled by the time they get posted online. Those jobs get filled by people that network, or made overtures beforehand.

Remember what grandma always told us: the early bird gets the worm.

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