Amazon, Paramount and GM are among the major companies announcing layoffs just this week, resulting in thousands of workers suddenly without a job.
Many of them may be feeling pressure to sign severance agreements to move on with the layoff. That could be a big mistake, according to experts.
“Don’t sign anything,” Kristina O’Neill, former WSJ Magazine top editor and co-author of “All the Cool Girls Get Fired,” told finance expert Vivian Tu on her podcast “Net Worth and Chill” last week.
“What happens is, when you’re in the room with the dreaded HR, they need you to sign that. So the ball’s actually in your court,” added co-author Laura Brown, previously InStyle’s editor-in-chief.
You can’t avoid signing the paperwork for months, she said, but you have and should take the time to review the agreement and get advice, whether from friends or a lawyer, before completing it.
The two magazine veterans wrote about being publicly fired from their jobs at the height of their careers, plus tips for those going through layoffs today.
What to negotiate in a severance package
Another piece of advice in “All the Cool Girls Get Fired” comes from New York Times money columnist Ron Lieber: “Ask for a better deal,” he wrote.
Negotiating severance could mean asking for more money (like tuition reimbursement for a course that will help you with a career change) or time (staying on payroll, even at a salary of $1, to keep the health insurance you need for a scheduled surgery in three weeks).
At a minimum, even a waiting period of 24 hours can help you better prepare for your return to the job market, he wrote.
A few things you can negotiate include:
- Vacation time payout
- Outplacement services, like career coaching, resume writing, interview practice and job placement assistance
- A shorter duration on a noncompete clause, if you have one, so you can get back into the job market sooner
- Keeping company-issued property like an old computer or cellphone
- Health insurance coverage, especially for a specific reason like an upcoming surgery. You may offer to negotiate for extended health coverage in exchange for part or all of your severance.
If you’re in a challenging situation that could inspire sympathy, like taking care of a sick family member, and you have a specific request on what the employer could do to help you, now’s the time to bring that up, according to Lieber.
“They’re not going to take the deal off the table if you politely ask for something better,” Lieber wrote, “so why wouldn’t you try?”
Source – https://www.cnbc.com/2025/10/30/avoid-this-no-1-mistake-after-a-layoff-and-what-to-do-instead.html