As the title suggests - I was made redundant last week, along with half of the juniors in our team. I have an ambition to stay in PE, either in London or the smaller local market where I am from, although it is really not a good timing to be desperately looking. I wanted to pick your brains on how to play this / craft the storyline:
If I am interviewing and tell the interviewer that I was made redundant, how bad do you think that is? In my defence, half the team was laid off and I could craft a story as to why I was selected (we were overexposed to my geographic coverage for example). I have also been told by my ex-manager that he would give me a great reference.
Whilst I can craft a decent story, I am a bit afraid that, since any position will always be between at least 4-5 candidates, if one of those candidates has been made redundant, he/she would be easy and clear to just filter out.
The alternative is to say that I left for personal reasons, but clearly there is a risk that any interviewer/HH knows about the layoffs at my firm (two HHs have already asked about rumours).
I am probably in the camp of telling the London HHs/interviewers about the layoffs and telling any such persons in my local region that it was for personal reasons, but would love to hear any thoughts from you all.
The fact a large percentage of your junior class was laid off with you is helpful. If anything, it reflects poorly on management for not hiring appropriately and not managing the credit cycle properly.
I would be honest and just say that some of your firm’s investments soured, the pipeline dried up and a lot of the junior took the brunt of the layoffs.
And then offer to show them the sterling reference letter from your old boss confirming this.
How much experience do you have before being laid off? Is this a well known / strong brand? (I’d be surprised if so)
I think it’s fine if multiple people have been laid off honestly. Everyone knows this is a tough market.
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