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WWYD- Layoff question
I received notice that my job will be terminated as of Dec 31st this year. I will get 2 months severance at that time & will be eligible for UE benefits. My issue is that my work has been paying my tuition, and if I leave "voluntarily" ie, before Dec 31st, I have to pay all that back, which would amount to about $3500. I am really torn. I want to start job hunting right now, as the market in the area where I live (SF Bay Area) for what I do is relatively tight.
DH is a full time student as well, and receives GI bill money- with the expectation of graduating this spring should he get all his classes this year. I have a good set of skills, and have a good bit of experience in my field, and would like to land a good job (who wouldn't), but am nervous about waiting until the last minute.
Any tips or suggestions? I have never been laid off before, so I really don't know what to do at this point. Thanks!
Re: WWYD- Layoff question
I would go ahead and start looking. Sometimes jobs are advertised a long time before the company actually needs someone to start. Just make it clear in your cover letter that you won't be available until Jan. 1st. The right employer will be willing to wait for you.
I definitely understand needing a job, but I wouldn't quit because of the tuition money--granted, this is the worst case scenario, but what if you quit your job to look for a new one, you don't have a new one by Dec 31st, and you still have to pay back all that money? Definitely wouldn't be ideal. Good luck, the right job will come along eventually!
I doubt they'd wait. It is only July.
I'd apply now, though. If the right thing comes up, it may be worth paying back the $3500. Applying for jobs doesn't mean that you have to accept offers -- I'd just keep all options open.
FET - transferred two embryos (boy and girl) - Nov 2014 - BFP!
Start looking. Who knows how long a job search will take.
If you get a job that needs you to start sooner, negotiate with soon to be former employer. They would probably rather give you the $3,500 then pay UE & give you 2 months severance b/c it will be cheaper for them. Do the math & present it to them that way if the actuality arises.
This was my first thought - that it might be worth paying back the $3500 if you get the right job.
The other option is to wait until October or so. In my experience, most jobs took awhile between applying and hiring. January won't seem so far away. Also, if you start in October but don't land a job before January, you'll have the two months of severance to find a job.