Was recently laid off due to market conditions.
Currently in the process with a group, and I applied to the group before severance ended.
When should I disclose that I was laid off, and how should I treat this moving forward, especially when cold emailing new people?
| +153 | Return Rates For Interns Are Falling? | 47 | 6h |
| +128 | UBS Americas IB: The Kids’ Table of Wall Street | 16 | 10h |
| +85 | I am a drunk MD AMA | 36 | 6h |
| +74 | London IB BB is a challenge | 41 | 6h |
| +61 | VP Lifestyle at Top BB Coverage Groups | 39 | 16h |
| +56 | An Outsider’s View of RX Banking Out of College | 6 | 1d |
| +48 | SharePoint makes IB hours HELL | 15 | 2d |
| +42 | momentum of Rx groups | 16 | 32m |
| +42 | KISSED MY VP… HELP!!! | 10 | 52m |
| +39 | Fired during interview | 8 | 23h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Bump
Based on the most helpful WSO content, here's how you should approach disclosing your layoff:
Timing of Disclosure: It's generally advisable to wait until the topic comes up naturally in the interview process or when specifically asked about your current employment status. If you're in the process with a group and applied before your final employment date, you don't need to bring it up proactively. However, if asked directly, you should be honest about your situation.
How to Treat the Layoff: When discussing the layoff, frame it in the context of market conditions and not personal performance. It's important to convey that the layoff was a part of a larger business decision and not due to individual shortcomings.
Cold Emailing: When reaching out to new contacts, focus on your skills, experiences, and what you can bring to the table. You don't need to mention the layoff in initial cold emails. Your goal is to spark interest and start a conversation. If the dialogue progresses and the question of your current status arises, then you can explain the layoff as previously mentioned.
Remember, layoffs, especially due to market conditions, are not uncommon and can happen to anyone. It's how you handle the situation and communicate it that can set you apart. Always maintain a positive and forward-looking attitude in your communications.
For more detailed advice, you might want to look into the Networking Guide from WSO, which can provide additional strategies for reaching out and framing your situation in a positive light.
Sources: Urgent: PE Offer after being fired, Being Fired and being upfront about it, https://www.wallstreetoasis.com/forum/job-search/suing-a-former-employer?customgpt=1, https://www.wallstreetoasis.com/forum/investment-banking/just-got-laid-off-now-what?customgpt=1, Running out of time and options in a big, big way; have no idea what to do; losing my mind
Inventore quam aspernatur asperiores dolorem distinctio. Nemo itaque beatae dolor nobis omnis id. Ut enim mollitia velit nemo. Suscipit autem provident non aut. Autem aliquam aut similique ratione qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...