Terrible news indeed. I see layoffs and termination of position as a failure on the part of the management or those who are responsible for the employees. And as an employee, one should never blame themselves for this type of termination.
You asked, "How did you deal with this?"
When I was let go, it was because of retribution from in-house (between two division) political fight in a multi-national company. We lost. Those in charge were laid off, I call it being fired. Yes I was angry. Came home did something nice for myself, a treat of sweet and a very large cup of chai latte. Went for a walk thinking what I did wrong...
Then I took stock of my situation. How much I had saved? mortgage left. What was my burn rate (how much I spent per month) and how long will it last. Do I want an another job. It was bit tough even on the tail end of 2008 crash and especially for someone fairly high up, older and making lots of money. I was "over qualified" for several positions I applied.
Revisited my thinking and decided to move to a place where cost of living was cheaper, people were much nicer, a place with lot less stress and people who had more things in common with my way of looking at life. Worked out the numbers (finance) and decided that I could retire. That is what I did. That is in the nutshell.
So after you come out of the fog of the bad news, LOOK FORWARD, THINK OF WHAT YOU WANT TO DO, WHAT YOU LIKE, PLAN WHAT YOU WANT TO DO, CHECK TO MAKE SURE ITS POSSIBLE AND ACT ON IT. Don't let yourself stagnate in what was in your lifestyle.



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