- Bank of America and Countrywide announced a merger and 7,500 jobs will be lost!
- United and Continental airlines are cutting routes and personnel due to rising jet fuel costs!
- UBS, Morgan Stanley, Goldman Sachs distribute pink slips on Wall Street following the meltdown of Bear Stearns and growing problems in the financial sector.

When we speak at the organizational level like this, we sometimes forget that there are people working with these companies whose lives and careers are changing as the company changes. New college graduates from the Class of 2008 may feel particularly vulnerable, worried about being last in and first out.

A recent college graduate with a MS in Human Resources shared that the call center where she was HR Director was experiencing financial challenges due to the economic downturn. Many facing similar career decisions consider job hunting for more secure jobs. Once we discarded the myth of "secure" jobs in today's business environment, staying with an organization in crisis might offer advantages to learn new job skills. Having maneuvered through industry downturns before, I shared some career advice about some of the HR competencies she could develop through the transition.

- Managing internal communications by staying on top of the rumor mill. Sharing relevant information with staff as needed in a positive way.
- Helping people transition out of the organization by working with headhunters and out placement firms.
- Learning how to lead through change.

It is hard to see the bright side of being downsized, but it is possible. Think it through and look for opportunities. Before making life changing career decisions, ask for career advice from someone who could help and offer some perspective.

Marcia Robinson writes and trains on career, workplace and employment issues for BullsEyeResumes.com. She has more than 9 years experience in higher education and 14 years of business experience in the Hospitality and Technology sectors. Robinson holds a BS in Business Management and a MBA with emphasis in Human Resources.

Article courtesy of WorkBloom, an employment blog incorporating a comprehensive career resources section, including the largest database of professionally written resume and cover letter samples on the Web.