[__natty__]

I’ve just been thinking about this and would like to ask those of you with more experience in the industry: do you prepare yourselves in any way for crises? Do you have any techniques for dealing with uncertainty?

Let’s say someone is entering the IT job market today. How should they prepare for the responsibilities of adulthood, starting a family, buying (perhaps on a mortgage?) their first flat, and planning for a family? I’m not writing solely in the context of AI layoffs but broader. Over the last 10 years that I’ve been in the IT industry from EU/US perspective, I’ve perceived the market as economic cycles, the sine wave of which has narrowed significantly (more often markets demands changes and instability) and accelerated in the past years.

[bob1029]

The only sure thing is to live significantly below your means as often as possible. Becoming accustomed to life as a peasant when you could live like a king is what makes you economically bulletproof.

I can go for a decade without another dime coming in the door. If I started using DoorDash and Amazon Prime every day, I'd last maybe 18-24 months. Just barely treading water is actually a great position to be in. It keeps you honest and any amount of work you do find on top of that feels like a windfall. An extra $500/m is a lot if you can make it happen consistently.

[sqircles]

These things certainly are not industry specific. I grew up in construction where layoffs are expected sometimes a few times per year. The basic personal finance advice helps, i.e. emergency fund, pay off high interest debt asap. Not burning bridges, building a network of real people is huge. Help people out when you are in a position to and are able to. As far as mindset, I think my Christian faith plays a big role in situations that might cause suffering. Essentially, don't make your career or your salary your identity and/or highest power in your life.

[cbm-vic-20]

Live within your means. Save aggressively. Invest wisely.

(Source: I'm one of the 21,000, let go via a 6am email after 15 years with the company in engineering and management roles.)

[glimshe]

There's really nothing special about the current situation. Throughout history, jobs have been rarely anything close to guaranteed.

You save a good deal of cash for emergencies, live below your means, keep your skill set up to date and face the world.

[dalyons]

The speed of change is what’s special this time. Careers are being eliminated faster than people can reskill or change careers.

[robertlagrant]

I'm not sure that's true. Jobs have moved overseas at a rapid rate in the past. What careers have been eliminated, and over what time period?

[delusional]

Nope, you just get up every day and do your best. If the ghouls at the top decide to axe you, then that's their loss. Humans have existing far longer than capitalism, we can survive without a boss.