Some companies remain stable and others had no choice but to close their businesses. Economic recession does not only affect the companies but the employees as well.
Causes
The impact of the economic recession was devastating especially for those people who make 100K from their salary. This is a hard to believe experience, especially if you love your job and at the same time you make good income out of it. That is how cruel life can be especially when you are not prepared.
Economic recession is beyond your control as well the closure of the company that you are working with. To avoid being caught off guard when things like this happened, readiness is the key. But things are not always the same. What if you lose your 6 figure job even before you realized it? What will you do?
Repercussions
Never think that it is the end of the world for you just because your 100K careers are over. There's no use crying over what happened because no matter how good you are, it doesn't change the fact that your career with that company is over. The feelings of hurt and betrayal will always be there and it is just natural to feel but you have to move on.
Managing your budget
You also have to assess your finances. Take all your bills and any other expenses and tally how much do you owe. Revisit how much savings you have and other assets you have then evaluate if you can still afford the standard of living you use to be when you were still enjoying your 6-figure job. If not, then lower down your standard of living to what you can afford. It is hard but you have to do it for you to survive.
Once you settled your finances, it is time to do your soul searching on what to do next. Losing a 100K employment is not an easy task but maybe this is your chance to figure out what do you really want to do with your life. Take a short break from your career and take this opportunity to discover your passion. Then if you are ready to go further, make a list of the things you wanted to do and start your life and shine again. You will be amazed of many opportunities that are waiting for you and before you knew it, you are back into track again.
