Redundancy is one of the most confronting career experiences an executive can face. It can be unexpected, it can feel personal, and it almost always comes at the worst possible time. With the Australian economy under significant strain, we are seeing a surge in restructures across industries, and the cuts are going deep.
The Australian Financial Review recently reported that corporate downsizing in 2025 is expected to be “more widespread than at any time since the early 1990s recession,” with thousands of executives and senior leaders being let go before year-end. For many, this will be a complete shock.
“Redundancy is not just about losing a role, it’s about the sudden loss of identity, stability, and income. But it can also be the catalyst for reinvention.”
Step One: Negotiate the Best Possible Exit
If redundancy is on the table, your first move is to negotiate. Don’t rush. Secure the very best outcome you can.
- Push for the maximum payout.
- Don’t be afraid to engage an employment lawyer for advice.
- Try to secure outplacement support, but insist on choosing a provider who will actively work with you, not just hand you generic templates.
The right outplacement support can open doors, provide introductions, and ensure you hit the ground running.
Step Two: Stay Employed if You Can
Sometimes companies offer redeployment into a more junior role, a contract position, or even a short-term project. Don’t let pride get in the way.
“Any opportunity to stay employed is worth considering in this market.”
Taking a step sideways or even backwards can buy you time, keep income flowing, and help you avoid competing with thousands of other executives all hitting the market at the same time.
Step Three: Think Career Portfolio, Not Single Job
Here’s the silver lining: redundancy can be the moment to finally pivot into a career portfolio. Instead of being reliant on one employer, you begin to diversify.
This could include:
- Interim executive roles (contract or project-based)
- Consulting, coaching, or mentoring work
- Board and advisory positions
- Side hustles or entrepreneurial ventures
- Short-term contracts in the gig economy
The idea is simple: multiple income streams reduce your overall risk. If one dries up, you still have others.
The Sydney Morning Herald recently highlighted the rise of “portfolio careers” among executives, noting that more leaders are “choosing to spread their skills across advisory, consulting, and interim roles rather than relying on a single job.”
Step Four: Be Strategic and Proactive
Looking for a senior role in today’s economy can take six months or longer. That’s why a structured, proactive strategy is essential.
- Outbound focus: Keep advertised roles to 30% of your activity. Spend 70% on outbound, targeting companies directly, reaching out to CEOs, HR Directors, and tapping into your network.
- Target list: Build a list of 20–30 companies you want to work with and study them closely.
- Leverage your network: Don’t hide your situation. Tell trusted contacts you are available. Many hesitate, but this is where real opportunities come from.
- Routine and discipline: Treat your job search like a job. Every day should include calls, outreach, research, and follow-up.
“The executives who survive redundancy are those who act with urgency, discipline, and a clear strategy.”
Step Five: Stay Active, Stay Visible
Even if you don’t urgently need the money, keep busy. Volunteer at a not-for-profit, mentor in your industry, or contribute thought leadership on LinkedIn. Staying active helps maintain your confidence, energy, and professional visibility.
Networking combined with thought leadership is powerful. Boards and businesses notice the people who are consistently showing up and adding value.
Turning Redundancy into Reinvention
Yes, redundancy is stressful. But it can also be the moment you reinvent yourself, shifting from one-dimensional employment to a resilient, diversified career portfolio.
By negotiating smartly, keeping options open, and building multiple income streams, you can transform redundancy from a setback into a launchpad.
“Redundancy can be the end of one chapter, but it can also be the start of a far more rewarding one.”
Kylie Hammond Outplacement Services
If you’ve been made redundant, you don’t have to navigate this alone. I work with executives every day to turn career setbacks into new opportunities.
Through my Outplacement Services, I help you:
- Negotiate the best exit outcomes
- Build a proactive job search strategy
- Pivot into a career portfolio with multiple income streams
- Explore interim executive, board, and advisory opportunities
- Rebuild confidence and professional visibility
