I don't think I'm going to get laid off. That said, I work for the biggest lifeco in Canada and (market cap) North America.
So, my boss and I often (of late) discuss what the odds are. We think we're pretty safe but have gone through the reasons for/against.
What does one do in preparation? I think it'd be foolish to look elsewhere, maybe not a bad idea to look - but to actively seek, a little premature. Obviously cut down on spending A LOT!
Ummm... ? I think without a job I'd last 6 months in my house. If I could rent it out and retreat to the parents I'd be okay. Should I reduce debt? Or pay as little down and keep cash? If one went bankrupt do you care how much debt you have? Or would it be better to go out in a blaze of glory?
These are all hypotheticals, I don't have much debt other than one CC and a fairly sizeable student LOC. My savings are pretty much a 10th of what it was in August
and I have my mortgage.
Good times!