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Additionally, seeking new job opportunities can lead to further financial constraints. The process of applying for unemployment benefits can be arduous, with outcomes often yielding minimal financial support that does not equate to living expenses.
Lost Benefits and Career Progress
Another overlooked consequence of layoffs is the loss of accrued benefits, such as vacation days. Many are forced to start over, losing years of built-up vacation time when they join a new employer. The typical two-week vacation policy in the U.S. means that long-term employees who enjoyed much more time off are suddenly left with the bare minimum, impacting their work-life balance and overall job satisfaction.