Big Tech Fires Thousands: 4 Ways to Protect Your Job and Money

Major companies are cutting thousands of jobs, and experts say you should prepare now - even if your job feels secure.

Meta just fired 10% of its workforce (about 8,000 people), despite being one of the world's richest companies. Microsoft, another tech giant, recently offered early retirement packages to 7% of its employees after already cutting 9,000 jobs last summer. Nike, Snap, and major banks like Wells Fargo, JPMorgan, and Bank of America are also reducing staff.

Here are 4 smart moves to protect yourself:

• Build an emergency fund - Save at least 3-6 months of living expenses in a separate savings account • Update your resume and LinkedIn - Don't wait until you need them. Keep your professional profiles current • Network actively - Connect with people in your industry now, not when you're desperately job hunting • Learn new skills - Take online courses or get certifications that make you more valuable

The article mentions that even strong, profitable companies are cutting jobs to boost profits and invest in AI (artificial intelligence - computer systems that can perform tasks normally requiring human intelligence). This means no job is 100% safe in today's economy.

Financial experts recommend starting these preparations immediately, whether you feel secure or not. Having a financial cushion (emergency savings) and keeping your professional network active can make the difference between a smooth transition and a financial crisis if layoffs come to your company.

This is an AI-generated summary. Read the original article at: https://www.marketwatch.com/story/as-mass-layoffs-threaten-jobs-here-are-4-smart-moves-to-protect-yourself-2b7544a2?mod=mw_rss_topstories