With Bank of America planning major layoffs, a lot of folks are worried.
While hardly unexpected, the big bank’s plans to cut 35,000 jobs are still discouraging. Many people are upset, and wonder if the axe is going to fall on them.
When times are unsettling, the best thing to do is focus on what you can control. You can’t control whether your office is shut down, but you can control whether you’re becoming more valuable to your employer. You can’t control what the market does. But you can control your spending and saving. And if it looks like your job is shaky, you can control whether your resume is up-to-date and your professional network is current.
When times are tough it feels like the storms are just tossing us around. By taking responsibility for what we can do ourselves, we seize the tiller of our lives, take command, and set sail for our own destination. That’s a lesson that’s always worth learning.
Douglas R. Tengdin, CFA
Chief Investment Officer
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