Subject: Guidance Needed on U5 Reporting After Layoffs
Hi everyone,
I hope you can help me with a situation I’m in. I recently received a job offer from a large firm and am currently undergoing the background check process. The U5 form inquires about any instances of being “dismissed” from a position.
I come from the tech sector and have experienced two layoffs: one occurred when my company was acquired and my department was relocated overseas, and the other was due to an agency losing a major contract, which resulted in budget cuts. Fortunately, I maintain good relationships with both of my former managers, and I’ve even worked with one as a consultant afterward.
I understand that I need to disclose these layoffs as dismissals, but they didn’t come up during the interview process since I hadn’t any employment gaps (I had secured new roles in advance as I anticipated the layoffs). I’m concerned this might jeopardize my job offer.
Does anyone have advice on how to navigate this? Thank you!
One response
It’s understandable to feel anxious about how to disclose your layoff experiences, especially after receiving a job offer. Here are some tips:
Be Transparent: It’s best to disclose the previous layoffs on the U5. Being honest about your employment history shows integrity and helps build trust with your new employer.
Clarify Context: When reporting the layoffs, provide context if applicable. Briefly explain that the layoffs were due to external factors beyond your control, such as company acquisitions or loss of contracts. Emphasize that you maintained good relationships with your managers post-layoff.
Focus on the Positives: Highlight any positive outcomes from these experiences, such as gaining new skills, consultants’ work, or how you’ve used these experiences to further your career. This can help frame your layoffs as a part of your growth rather than setbacks.
Prepare for Questions: If the topic comes up in the background check or with your new employer, be ready to discuss your experiences confidently. Focus on what you learned and how you’ve successfully moved forward.
Reassure Them: You can express your commitment to the new role and reassure them that you are excited to contribute to the team.
Remember, layoffs can happen to anyone, especially in tech, and most employers understand this. Good luck with your new position!