“Previously, the city comptroller’s office had forecast up to 100,000 job losses citywide. This week’s trifecta of the Manhattan-based AIG tumult, along with Bank of America’s purchase of Merrill Lynch and Lehman Brothers’ bankruptcy filing, will mean even more job cuts than that, Van Wagner said.”

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Market turmoil to prolong economic slump, experts say»

It was a shocking week for the people of America especially those in the financial market. AIG, Merrill Lynch, Lehman Brothers – they are dinosaurs. If they could go under, anything can happen now. And because the people under their payroll run in the thousands and not hundreds, it is a worrying sign for many employees now. The next question: can this current global credit crunch spill over to other industries too? Probably and let us also not be naïve that this is an American problem. Nearer to home, we occasionally encounter laid-off news with the recent casualty being Nikko Electronics Bhd that had lay off 948 workers in July 2008. We had been fortunate thus far but may not be for long.

Losing one’s job can be a very straining experience. Most of the time, our vocation defines us – it gives us an identity. When you are out of a job, especially not a decision that you volunteer to it, you can experience a “temporary identity loss”.

As a laid-off worker, how do you handle your anger? How do you find the energy and confidence to search for work? Would your service be required in other industries?

More importantly, how can you bring yourself to be confident during interviews without looking desperate?

• Taking time off to heal is important. Being angry is natural but you cannot stay in that state forever. If need be, journal down or share with a good friend your frustrations, shock and disappointment.

• Keep in touch with others that are in the same boat as you. Talking things over help in the healing process and knowing that you are not alone is important. Helping one another in alerting job opportunities keep your self-esteem intact.

• Do a checklist of your competencies and skills. Revisit your strengths once again so that your self-esteem will not be affected.

• As you prepare for any prospective interviews, do an inventory of your past experience that may be of value to the next organization. This is an important process especially for those that had their last job interview more than 8 to 10 years ago.

• Be proactive. Always find out what the employer needs before you go for an interview. Check out with people of the industry if you were not from that industry. The same principle applies: Employers are attracted to employees that are resourceful and willing to take the extra mile.

• Do not let your emotions get the better of you during interviews even though you may still be suffering from “post-laid off syndrome”. Bitterness and throwing your frustrations on the interviewer will not get you the job. (Sorry, no employer is going to hand you a job out of sympathy.)

• It was a general belief that one factor above all others that leads to getting hired is the number of potential employers contacted. As such, be open to new opportunities and do not be afraid to go for interviews for jobs that you had never thought of doing before. Who knows? You may end up in a more exciting vocation than before.

• Read self-help books. Surround yourself with supportive and optimistic people. You got to believe that this is not the end of the world for you.