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4 ways to protect your finances after being retrenched

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If you are given a severance package, use it prudently and not spend it all like getting a windfall.

If you are given a severance package, use it prudently and not spend it all like getting a windfall.

PHOTO ILLUSTRATION: NEIL WEBB/NYTIMES

Lisa Rabasca Roepe

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Ms Marla Hetzel knew the healthcare company she worked for was struggling and that several employees had been let go. So when colleagues who once sought her input suddenly cancelled meetings with her, she started to worry.

“I began seeing signals that were telling me that if there were going to be more layoffs, I was probably a target,” said Ms Hetzel, 55, who led the company’s innovation efforts.

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