job hunting during layoffs: Employee in a catch-22 after 18 years: Take a new offer or wait for layoff and severance? Gets strategic guidance

Recently, a new internal job opportunity appeared, but it would be a big stretch and extremely stressful. Taking that job would mean they could keep working and avoid layoffs. If they wait and get laid off, they would receive about $70,000 in severance after tax, paid as a lump sum. They would also continue to get regular pay for 90 days after the layoff.

Money safety and expenses

The employee added that they live well below their means, so unemployment benefits could cover expenses until December. Their biggest worry is that they keep hearing that finding a job is very hard right now.They asked others online whether they should push for the stressful job or wait and take the severance package.
One commenter said they have been job hunting for 8 months without success, showing how difficult the market is. That person said they would prefer having a job over severance because finding work is not easy. They added they do get interviews, but mostly through networking, not cold applications, and still no offers.

Advice to take severance

Another user gave opposite advice and said the employee should take the severance, because $70k plus extra pay puts them in a safe financial position. That commenter said since the employee is not struggling financially, they should avoid a very stressful job just for income. Some users also pointed out there is still some demand for mid- to senior-level roles, even though the market is weaker than before.

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Another commenter agreed and said taking severance could allow the employee to rest for some time before starting a job search. One person shared they are in a similar situation, receiving a large severance, months of pay, and health benefits, and plan to take a break before job hunting. They advised the employee to stay calm and not panic, because eventually something will work out. The employee is caught in a classic “catch-22” — choose a stressful job now for security or risk layoffs but gain a strong financial safety cushion.

FAQs

Q1. Should you take severance or keep a stressful job during layoffs?It depends on your money situation, but experts say if you have savings, severance can give you time to find a better job.

Q2. Is it hard to find a new job during layoffs right now?

Yes, many people say job hunting is slow, and most interviews are coming through networking, not online applications.