Losing your job is disorienting. One day you have a routine, a paycheck, a plan. The next day you're sitting at your kitchen table trying to figure out what to handle first. There are deadlines you didn't know existed — and most of them start counting down the moment your employment ends.
This post breaks down the first 30 days after a layoff, week by week. It's not everything — every situation is different. But it's a starting point so nothing critical falls through the cracks.
The First 24 Hours
Before you do anything else, take a breath. The urge to react immediately is strong, but rushing leads to mistakes — especially with paperwork.
Here's what to handle on day one.
File for unemployment. Most states let you file online the same day you're separated from your employer. The sooner you file, the sooner payments begin. Processing typically takes 2 to 3 weeks, so waiting only delays your first check.
Don't sign anything yet. If your employer hands you a severance agreement, you likely have time to review it. Most agreements give you 21 days to decide — or 45 days if you're over 40. Read every line. You may want an attorney to review it before you sign.
Write down your last day of employer health coverage. This date matters. Your COBRA and marketplace insurance timelines start here.
Lumeway's First 24 Hours Guide: Losing Your Job is a free-reference worksheet that walks through the most urgent actions in the first day after a layoff.
Week 1: The Urgent Paperwork
Your employer is required to send you a COBRA election notice within 14 days of your coverage ending. Once you receive it, you have 60 days to elect. That deadline is firm.
If you were offered severance, now is the time to review it carefully. Look at the total package — not just the dollar amount. Check for non-compete clauses, non-disparagement language, and whether they're asking you to waive your right to file certain claims. Consider having an employment attorney review it, especially if the terms feel aggressive.
Start gathering your financial documents: pay stubs, tax returns, bank statements, retirement account summaries. You'll need these for unemployment verification, insurance applications, and budgeting.
If you have a 401(k) through your former employer, don't do anything with it yet. It's safe where it is for now. You'll want to understand your rollover options before moving anything.
Week 2: Money and Insurance
This is the week to make your insurance decision. You typically have three options.
COBRA continues your employer plan, but you pay the full premium — which most people find shockingly expensive. It's usually 2 to 4 times what you were paying as an employee.
Marketplace insurance through healthcare.gov may be cheaper, especially if your income has dropped. Losing employer coverage qualifies you for a Special Enrollment Period — you have 60 days from your coverage end date to enroll.
A spouse or partner's plan is often the simplest option if it's available.
Compare all three side by side before deciding. Premiums, deductibles, networks, and prescription coverage all matter.
Lumeway's Health Insurance Comparison Worksheet helps you line up COBRA, marketplace, and spouse's plan details in one place. The Budget Reduction Worksheet helps you map your new monthly income against expenses.
This is also the week to adjust your budget. Your income has changed — your spending needs to change with it. Look at every recurring charge. Cancel what you don't need. Identify your monthly burn rate so you know exactly how long your savings and unemployment will last.
If you're falling behind on bills, reach out to creditors early. Most will work with you if you contact them before you miss a payment — not after.
Weeks 3 and 4: Building Momentum
By now, the most urgent deadlines are handled. This is when you shift from defense to offense.
Start your job search with a system. Track every application — company, role, date applied, contact name, follow-up status. A spreadsheet or tracking worksheet prevents the spiral of "did I already apply there?" that hits around application number 15.
Update your LinkedIn profile. Recruiters search LinkedIn daily. Make sure your headline, summary, and recent experience are current. You don't have to announce anything publicly if you're not comfortable — but your profile should be ready to be found.
Request professional references now. Ask while the relationship is fresh and your work is top of mind. Most people are happy to help — they just need to be asked.
Consider your 401(k) options. You can leave it where it is, roll it to an IRA, or roll it to a new employer's plan later. Each option has different tax implications. A financial advisor can help you weigh them.
Lumeway's Job Search Tracker Worksheet gives you a structured way to track applications, contacts, and follow-ups in one place.
What to Do Next
Here's a quick summary of your first 30 days.
Day 1: File for unemployment. Don't sign severance yet. Note your last day of health coverage.
Week 1: Watch for your COBRA notice. Review severance carefully. Gather financial documents.
Week 2: Compare insurance options. Adjust your budget. Contact creditors if needed.
Weeks 3–4: Start your job search with a tracking system. Update LinkedIn. Request references.
Every situation is different — these are general steps that apply to most people. For anything involving legal agreements, government benefits, or financial decisions, consult a licensed professional who can advise on your specific circumstances.
Stay organized through job loss
The Job Loss & Income Crisis Bundle includes 14 step-by-step worksheets covering severance, COBRA, budgeting, job search tracking, and more.
Not sure where to start? Our free Transition Navigator at lumeway.co walks you through the general timeline for job loss — step by step.
This post is for informational purposes only and does not constitute legal, financial, or medical advice. Consult a licensed professional for guidance specific to your situation.