SlideShare a Scribd company logo
1 of 27
LAY-OFF
Temporary Termination..
ATTRITIO
NRemoval at Mass-Level..
Mutual Agreement
Deal with employee to shift
@ other place..
1
2
3
LAY-OFF
 Hewlett-Packard
 Biggest layoff: 24,600  Date of
layoff: September 2008.
 Daimler Chrysler
 Biggest layoff: 26,000 Date of layoff: January
2001.
 Boeing
 Biggest layoff: 31,000  Date of
layoff: September 2001.
  AT&T
Biggest layoff: 40,000 Date of layoff: January
1996
Suspension or terminat
ion of employment (wit
h or without notice) by
the employer or manag
ement. Layoffs are not
caused by any fault of
the employees but by
reasons such as lack
of work, cash,
or material. Permanent
layoff is called
redundancy.
ATTRITION
A gradual reduction in 
personnel or membersh
ip 
because of resignation, 
retirement, or death, oft
en viewed in contrast to
reduction from layoffs.
MUTUAL
AGREEMENT
• In order to get the previous employee a
new and promising career, U S Postal
Services shifted it’s 3000 employees to
the Banking Branch of Company.
• In 2008, Goldman Sachs shifted it’s 300
employees to a new JV suite which was
also a part of GMS group.
In order to get a
new career for the
employee being laid-
off, the company
may promise
him/her a new
career somewhere
else in other
company or in the
same company but
any other
department.
Six Stages of the Unemployment Cycle
• BEFORE THE LAY-OFF- This is the process
of shortlisting a particular employee for being
laid-off. The HR shortlist the persons to be
removed and proceeds for the further
procedures…
• The LAY-OFF..- This is the procedure in which
the termination of employee is performed and all
accounts are tallied, also the pink slip is
converted to red slip.
• INTENSIVE JOB SEARCH- Once you get
terminated from a particular company, your
search begins for the new job duties. This
includes search through recommendations and
references. It needs hard work day n night..
• RETRAINING- Though you are well trained in
your profession still you need to get retrained for
the new job as for your new company, you a
fresher..
• RUNNING OUT OF BENEFITS- As
you join new company, they pay you less
as compared to previous job because you
are now a laid-off employee and they have
a reason to pay you less..
• Adjusting to a new job- After joining a
new company, you get a new working
family with which you need to establish a
new relationship to enhance your work
LAY-OFF - REASON
 Worker
Characteristics
Performance
Tenure
Education
 Job Characteristics
Contingent vs. Permanent 
Part-time vs. Full-time
Union vs. Non-Union
 Organizational
Change in
Characteristics
Announced Layoffs
Upcoming Merger or 
Organizational  Restructur
ing
 Organizational
Technology
Changing Technology
Proximity of Job to
Core Technology
1. 2. 3. 4.
Everyone
wants to be
beneficial and
want to keep
its employee
happy…
Cutting Costs
There is no
need for the
unnecessary
people.. At an
already crowded
place…
Staff Reduction
Everyone
wants to
grow.. Rather
you should be
happy or
not…
Relocation
Well… if it is a deal
of profit… then..
They will not care
about you…
Merger or Buyouts
Main reasons behind LAY-OFF..
19% Contract completed
6% Seasonal work
11% Change of Ownership
12% Financial DifficultySlack Work 14%
Reorganization within
company 14%
Others 23%
Reasons for Lay-off
LAY-OFF Data Analysis..
Staying Off the Layoff List
LAY-OFF - SURVIVAL
Side effects of Layoff to the employee
 Loss of wages and benefits.
 Loss of role as worker and provider. 
 Loss of dignity and self esteem.
 Loss of trust .
 Loss of control over your life.
 Loss of the pattern of daily life.
 Loss of the work family.
 Loss of collective strength.
Alternatives to layoff
• Restructuring the business
•Closing of obsolete plants
or branches
•Administrative overhauls(revision)
•Selling of non-core operations
•Improving internal processes
A Short video about LAY-OFF..
6 FAMOUS PEOPLE WHO
FLOURISHED AFTER BEING
LAID OFF
WALT DISNEY
Its hard to believe that the man who
created Mickey mouse and co-founded
one of the biggest motion picture
companies ever faced rejection, but in
1919, Walt Disney was fired from his
job at the Kansas City Star because
he supposedly lacked imaginative
ideas. Disney later set his insights on
creating a cartoon series that spurred
the mega media conglomerate known
as The Walt Disney Company.
J.K. ROWLING
Before J.K. Rowling was writing about
wizards and warlocks, the best-selling
author was working as a secretary for
the London office of Amnesty
International. When Rowling's dreams of
becoming a writer got in the way of her
secretarial work, she got laid off.
Rowling used her severance check to
support her as she began to write the
book series that would change her life
forever.
OPRAH
WINFREY
Long before Oprah Winfrey became
the most successful female talk show
host in television history, she was
working as a TV news reporter at
WJZ in Baltimore. After seven and a
half months of co-anchoring at WJZ,
Winfrey was pulled off the air
because the producer felt she was
too emotionally invested in her
stories and was “unfit for television
news.”
MICHAEL
BLOOMBERG
Billionaire businessman and New
York City Mayor Michael Bloomberg
didn’t reach this level of success
without falling a little here and there.
When Bloomberg was a partner at
the investment bank. Salomon
Brothers, he and 62 colleagues were
fired because the company was
brought out. Bloomberg used his
severance check to develop his own
financial services company, which
has made him the 18th
richest person
in the country.
THOMAS EDISON
Today, Thomas Edison is regarded as
one of the most prolific investors in
history. However, during Edison’s
early years, he was called stupid by
his teachers and was fired from his
first two jobs for not working hard
enough. Despite his failures and
firings, Edison went on to invent some
of the most remarkable devices like
the light bulb, the phonograph and the
motion picture camera.
LANCE
ARMSTRONG
Cycling star and seven time Tour de
France winner Lance Armstrong didn’t
always come out on top. In 1997,
Armstrong was fired from the French
racing team Cofidis while he was
undergoing cancer treatment. The team
refused to give Armstrong the rest of his
salary and medical coverage. Obviously,
Armstrong went on to lead the United
States Postal Service squad and take
home a handful of victories.
QUIZ TIME IT IS…
QA SESSION
Lay off.

More Related Content

What's hot

HR Practices at HUL
HR Practices at HUL HR Practices at HUL
HR Practices at HUL Madhav Desai
 
Project on recruitment and selection process
Project on recruitment and selection processProject on recruitment and selection process
Project on recruitment and selection processankit kumar
 
Final Project Report on Recruitment & Selection
Final Project Report on Recruitment & SelectionFinal Project Report on Recruitment & Selection
Final Project Report on Recruitment & SelectionMdsamim143
 
infosys hr policies
infosys hr policiesinfosys hr policies
infosys hr policiesSneha Joy
 
Project report on evaluation of recruitment and selection process
Project report on evaluation of recruitment and selection processProject report on evaluation of recruitment and selection process
Project report on evaluation of recruitment and selection processElina Pari
 
Human Resource Management (in TATA Motors)
Human Resource Management (in TATA Motors)Human Resource Management (in TATA Motors)
Human Resource Management (in TATA Motors)Urmilesh Tiwari
 
A case study on employee retention strategies
A case study on employee retention strategiesA case study on employee retention strategies
A case study on employee retention strategiesVijayakumar Kumar
 
MBA HR PROJECT REPORT ON TRAINING AND DEVELOPMENT
MBA HR PROJECT REPORT ON TRAINING AND DEVELOPMENTMBA HR PROJECT REPORT ON TRAINING AND DEVELOPMENT
MBA HR PROJECT REPORT ON TRAINING AND DEVELOPMENTSalim Palayi
 
questionnaire on employee attrition
questionnaire on employee attritionquestionnaire on employee attrition
questionnaire on employee attritionchhayatripathi23
 
HRM Induction Process
HRM Induction ProcessHRM Induction Process
HRM Induction Processharmar
 
PROJECT ON JOB SATISFACTION
PROJECT ON JOB SATISFACTIONPROJECT ON JOB SATISFACTION
PROJECT ON JOB SATISFACTIONPavani Guduru
 
HUMAN RESOURCE MANAGEMENT POLICIES OF TCS AND PANTALOONS
HUMAN RESOURCE MANAGEMENT POLICIES OF TCS AND PANTALOONS HUMAN RESOURCE MANAGEMENT POLICIES OF TCS AND PANTALOONS
HUMAN RESOURCE MANAGEMENT POLICIES OF TCS AND PANTALOONS Gunjan Thakkar
 
summer internship report - sourcing and recruitment
summer internship report - sourcing and recruitmentsummer internship report - sourcing and recruitment
summer internship report - sourcing and recruitmentSwetaSaroha
 
Analysis of recruitment and selection process
Analysis of recruitment and selection processAnalysis of recruitment and selection process
Analysis of recruitment and selection processNeethu yadav
 
Project report on compensation and benefits
Project report on compensation and benefitsProject report on compensation and benefits
Project report on compensation and benefitssukesh gowda
 
Contract labour management
Contract labour management Contract labour management
Contract labour management RITESH HELONDE
 
training & development ppt
training & development ppttraining & development ppt
training & development pptMonishaangel
 
Placement and induction in HRM
Placement and induction in HRM Placement and induction in HRM
Placement and induction in HRM Anuj Yadav
 

What's hot (20)

HR Practices at HUL
HR Practices at HUL HR Practices at HUL
HR Practices at HUL
 
Project on recruitment and selection process
Project on recruitment and selection processProject on recruitment and selection process
Project on recruitment and selection process
 
Final Project Report on Recruitment & Selection
Final Project Report on Recruitment & SelectionFinal Project Report on Recruitment & Selection
Final Project Report on Recruitment & Selection
 
infosys hr policies
infosys hr policiesinfosys hr policies
infosys hr policies
 
Project report on evaluation of recruitment and selection process
Project report on evaluation of recruitment and selection processProject report on evaluation of recruitment and selection process
Project report on evaluation of recruitment and selection process
 
Human Resource Management (in TATA Motors)
Human Resource Management (in TATA Motors)Human Resource Management (in TATA Motors)
Human Resource Management (in TATA Motors)
 
A case study on employee retention strategies
A case study on employee retention strategiesA case study on employee retention strategies
A case study on employee retention strategies
 
MBA HR PROJECT REPORT ON TRAINING AND DEVELOPMENT
MBA HR PROJECT REPORT ON TRAINING AND DEVELOPMENTMBA HR PROJECT REPORT ON TRAINING AND DEVELOPMENT
MBA HR PROJECT REPORT ON TRAINING AND DEVELOPMENT
 
questionnaire on employee attrition
questionnaire on employee attritionquestionnaire on employee attrition
questionnaire on employee attrition
 
HRM Induction Process
HRM Induction ProcessHRM Induction Process
HRM Induction Process
 
PROJECT ON JOB SATISFACTION
PROJECT ON JOB SATISFACTIONPROJECT ON JOB SATISFACTION
PROJECT ON JOB SATISFACTION
 
HUMAN RESOURCE MANAGEMENT POLICIES OF TCS AND PANTALOONS
HUMAN RESOURCE MANAGEMENT POLICIES OF TCS AND PANTALOONS HUMAN RESOURCE MANAGEMENT POLICIES OF TCS AND PANTALOONS
HUMAN RESOURCE MANAGEMENT POLICIES OF TCS AND PANTALOONS
 
Moonlighting in India.docx
Moonlighting in India.docxMoonlighting in India.docx
Moonlighting in India.docx
 
summer internship report - sourcing and recruitment
summer internship report - sourcing and recruitmentsummer internship report - sourcing and recruitment
summer internship report - sourcing and recruitment
 
Analysis of recruitment and selection process
Analysis of recruitment and selection processAnalysis of recruitment and selection process
Analysis of recruitment and selection process
 
Executive compensation
Executive compensationExecutive compensation
Executive compensation
 
Project report on compensation and benefits
Project report on compensation and benefitsProject report on compensation and benefits
Project report on compensation and benefits
 
Contract labour management
Contract labour management Contract labour management
Contract labour management
 
training & development ppt
training & development ppttraining & development ppt
training & development ppt
 
Placement and induction in HRM
Placement and induction in HRM Placement and induction in HRM
Placement and induction in HRM
 

Similar to Lay off.

Apple Company Case Study
Apple Company Case StudyApple Company Case Study
Apple Company Case StudyClaudia Brown
 
Decton Voice
Decton VoiceDecton Voice
Decton Voiceprmirage
 
I Academy of Management Executive, 1993 Vol. 7 No. 1Downsi.docx
I Academy of Management Executive, 1993 Vol. 7 No. 1Downsi.docxI Academy of Management Executive, 1993 Vol. 7 No. 1Downsi.docx
I Academy of Management Executive, 1993 Vol. 7 No. 1Downsi.docxadampcarr67227
 
Salary reductions presentation june 2020 with formatting
Salary reductions presentation   june 2020 with formattingSalary reductions presentation   june 2020 with formatting
Salary reductions presentation june 2020 with formattingArt Amler
 
JLL Columbus Office Employment Update February 2015
JLL Columbus Office Employment Update February 2015JLL Columbus Office Employment Update February 2015
JLL Columbus Office Employment Update February 2015Andrew Batson
 
Weekly10 - How to manage employees during tough times.pdf
Weekly10 - How to manage employees during tough times.pdfWeekly10 - How to manage employees during tough times.pdf
Weekly10 - How to manage employees during tough times.pdfWeekly10
 
1 Topic-4 Employee Motivation PROBLEM-SOLVING AP.docx
1  Topic-4 Employee Motivation  PROBLEM-SOLVING AP.docx1  Topic-4 Employee Motivation  PROBLEM-SOLVING AP.docx
1 Topic-4 Employee Motivation PROBLEM-SOLVING AP.docxhoney725342
 
Downsizing,VRS,Worklife Balance, time management by sunesh
Downsizing,VRS,Worklife Balance, time management by suneshDownsizing,VRS,Worklife Balance, time management by sunesh
Downsizing,VRS,Worklife Balance, time management by suneshSunesh Malik
 
Case study: Crown Point Cabinetry
Case study: Crown Point CabinetryCase study: Crown Point Cabinetry
Case study: Crown Point CabinetryMa. Joana Barrion
 
5 Strategies to Combat the Great Resignation
5 Strategies to Combat the Great Resignation5 Strategies to Combat the Great Resignation
5 Strategies to Combat the Great ResignationCBIZ, Inc.
 
Effectively dealing with dismissals and terminations May 2012
Effectively dealing with dismissals and terminations May 2012Effectively dealing with dismissals and terminations May 2012
Effectively dealing with dismissals and terminations May 2012Timothy Holden
 
Sullian and cromwell
Sullian and cromwellSullian and cromwell
Sullian and cromwellEyad Afandi
 

Similar to Lay off. (20)

Monster.com
Monster.comMonster.com
Monster.com
 
Downsizing
DownsizingDownsizing
Downsizing
 
Apple Company Case Study
Apple Company Case StudyApple Company Case Study
Apple Company Case Study
 
Columbus JLL Office Employment Update March 2015
Columbus JLL Office Employment Update March 2015Columbus JLL Office Employment Update March 2015
Columbus JLL Office Employment Update March 2015
 
Columbus jll office employment update march 2015
Columbus jll office employment update march 2015Columbus jll office employment update march 2015
Columbus jll office employment update march 2015
 
Decton Voice
Decton VoiceDecton Voice
Decton Voice
 
I Academy of Management Executive, 1993 Vol. 7 No. 1Downsi.docx
I Academy of Management Executive, 1993 Vol. 7 No. 1Downsi.docxI Academy of Management Executive, 1993 Vol. 7 No. 1Downsi.docx
I Academy of Management Executive, 1993 Vol. 7 No. 1Downsi.docx
 
Salary reductions presentation june 2020 with formatting
Salary reductions presentation   june 2020 with formattingSalary reductions presentation   june 2020 with formatting
Salary reductions presentation june 2020 with formatting
 
JLL Columbus Office Employment Update February 2015
JLL Columbus Office Employment Update February 2015JLL Columbus Office Employment Update February 2015
JLL Columbus Office Employment Update February 2015
 
SuretyReport7.1
SuretyReport7.1SuretyReport7.1
SuretyReport7.1
 
Weekly10 - How to manage employees during tough times.pdf
Weekly10 - How to manage employees during tough times.pdfWeekly10 - How to manage employees during tough times.pdf
Weekly10 - How to manage employees during tough times.pdf
 
Restructuring_4
Restructuring_4Restructuring_4
Restructuring_4
 
1 Topic-4 Employee Motivation PROBLEM-SOLVING AP.docx
1  Topic-4 Employee Motivation  PROBLEM-SOLVING AP.docx1  Topic-4 Employee Motivation  PROBLEM-SOLVING AP.docx
1 Topic-4 Employee Motivation PROBLEM-SOLVING AP.docx
 
Downsizing,VRS,Worklife Balance, time management by sunesh
Downsizing,VRS,Worklife Balance, time management by suneshDownsizing,VRS,Worklife Balance, time management by sunesh
Downsizing,VRS,Worklife Balance, time management by sunesh
 
Case study: Crown Point Cabinetry
Case study: Crown Point CabinetryCase study: Crown Point Cabinetry
Case study: Crown Point Cabinetry
 
The /Slash Worker
The /Slash WorkerThe /Slash Worker
The /Slash Worker
 
5 Strategies to Combat the Great Resignation
5 Strategies to Combat the Great Resignation5 Strategies to Combat the Great Resignation
5 Strategies to Combat the Great Resignation
 
Effectively dealing with dismissals and terminations May 2012
Effectively dealing with dismissals and terminations May 2012Effectively dealing with dismissals and terminations May 2012
Effectively dealing with dismissals and terminations May 2012
 
Sullian and cromwell
Sullian and cromwellSullian and cromwell
Sullian and cromwell
 
How to Explain Job Hopping
How to Explain Job HoppingHow to Explain Job Hopping
How to Explain Job Hopping
 

Recently uploaded

Market Signals – Global Job Market Trends – March 2024 summarized!
Market Signals – Global Job Market Trends – March 2024 summarized!Market Signals – Global Job Market Trends – March 2024 summarized!
Market Signals – Global Job Market Trends – March 2024 summarized!Career Angels
 
The Engagement Engine: Strategies for Building a High-Performance Culture
The Engagement Engine: Strategies for Building a High-Performance CultureThe Engagement Engine: Strategies for Building a High-Performance Culture
The Engagement Engine: Strategies for Building a High-Performance CultureAggregage
 
The No-Nonsense Guide to Choosing the Right Human Resources Management Softwa...
The No-Nonsense Guide to Choosing the Right Human Resources Management Softwa...The No-Nonsense Guide to Choosing the Right Human Resources Management Softwa...
The No-Nonsense Guide to Choosing the Right Human Resources Management Softwa...HRMantra Software Pvt. Ltd
 
Presentation on HR for Weekly Review Meeting
Presentation on HR for Weekly Review MeetingPresentation on HR for Weekly Review Meeting
Presentation on HR for Weekly Review MeetingAlokChatterjee16
 
Salary Survey 2024 For Employers to Hire Remotely From India
Salary Survey 2024 For Employers to Hire Remotely From IndiaSalary Survey 2024 For Employers to Hire Remotely From India
Salary Survey 2024 For Employers to Hire Remotely From IndiaNayantikaSrivastava1
 
Webinar - Q2 2024: What’s New in MarketPay
Webinar - Q2 2024: What’s New in MarketPayWebinar - Q2 2024: What’s New in MarketPay
Webinar - Q2 2024: What’s New in MarketPayPayScale, Inc.
 

Recently uploaded (6)

Market Signals – Global Job Market Trends – March 2024 summarized!
Market Signals – Global Job Market Trends – March 2024 summarized!Market Signals – Global Job Market Trends – March 2024 summarized!
Market Signals – Global Job Market Trends – March 2024 summarized!
 
The Engagement Engine: Strategies for Building a High-Performance Culture
The Engagement Engine: Strategies for Building a High-Performance CultureThe Engagement Engine: Strategies for Building a High-Performance Culture
The Engagement Engine: Strategies for Building a High-Performance Culture
 
The No-Nonsense Guide to Choosing the Right Human Resources Management Softwa...
The No-Nonsense Guide to Choosing the Right Human Resources Management Softwa...The No-Nonsense Guide to Choosing the Right Human Resources Management Softwa...
The No-Nonsense Guide to Choosing the Right Human Resources Management Softwa...
 
Presentation on HR for Weekly Review Meeting
Presentation on HR for Weekly Review MeetingPresentation on HR for Weekly Review Meeting
Presentation on HR for Weekly Review Meeting
 
Salary Survey 2024 For Employers to Hire Remotely From India
Salary Survey 2024 For Employers to Hire Remotely From IndiaSalary Survey 2024 For Employers to Hire Remotely From India
Salary Survey 2024 For Employers to Hire Remotely From India
 
Webinar - Q2 2024: What’s New in MarketPay
Webinar - Q2 2024: What’s New in MarketPayWebinar - Q2 2024: What’s New in MarketPay
Webinar - Q2 2024: What’s New in MarketPay
 

Lay off.

  • 1.
  • 2. LAY-OFF Temporary Termination.. ATTRITIO NRemoval at Mass-Level.. Mutual Agreement Deal with employee to shift @ other place.. 1 2 3
  • 3. LAY-OFF  Hewlett-Packard  Biggest layoff: 24,600  Date of layoff: September 2008.  Daimler Chrysler  Biggest layoff: 26,000 Date of layoff: January 2001.  Boeing  Biggest layoff: 31,000  Date of layoff: September 2001.   AT&T Biggest layoff: 40,000 Date of layoff: January 1996 Suspension or terminat ion of employment (wit h or without notice) by the employer or manag ement. Layoffs are not caused by any fault of the employees but by reasons such as lack of work, cash, or material. Permanent layoff is called redundancy.
  • 5. MUTUAL AGREEMENT • In order to get the previous employee a new and promising career, U S Postal Services shifted it’s 3000 employees to the Banking Branch of Company. • In 2008, Goldman Sachs shifted it’s 300 employees to a new JV suite which was also a part of GMS group. In order to get a new career for the employee being laid- off, the company may promise him/her a new career somewhere else in other company or in the same company but any other department.
  • 6. Six Stages of the Unemployment Cycle
  • 7. • BEFORE THE LAY-OFF- This is the process of shortlisting a particular employee for being laid-off. The HR shortlist the persons to be removed and proceeds for the further procedures… • The LAY-OFF..- This is the procedure in which the termination of employee is performed and all accounts are tallied, also the pink slip is converted to red slip.
  • 8. • INTENSIVE JOB SEARCH- Once you get terminated from a particular company, your search begins for the new job duties. This includes search through recommendations and references. It needs hard work day n night.. • RETRAINING- Though you are well trained in your profession still you need to get retrained for the new job as for your new company, you a fresher..
  • 9. • RUNNING OUT OF BENEFITS- As you join new company, they pay you less as compared to previous job because you are now a laid-off employee and they have a reason to pay you less.. • Adjusting to a new job- After joining a new company, you get a new working family with which you need to establish a new relationship to enhance your work
  • 10. LAY-OFF - REASON  Worker Characteristics Performance Tenure Education  Job Characteristics Contingent vs. Permanent  Part-time vs. Full-time Union vs. Non-Union  Organizational Change in Characteristics Announced Layoffs Upcoming Merger or  Organizational  Restructur ing  Organizational Technology Changing Technology Proximity of Job to Core Technology
  • 11. 1. 2. 3. 4. Everyone wants to be beneficial and want to keep its employee happy… Cutting Costs There is no need for the unnecessary people.. At an already crowded place… Staff Reduction Everyone wants to grow.. Rather you should be happy or not… Relocation Well… if it is a deal of profit… then.. They will not care about you… Merger or Buyouts Main reasons behind LAY-OFF..
  • 12. 19% Contract completed 6% Seasonal work 11% Change of Ownership 12% Financial DifficultySlack Work 14% Reorganization within company 14% Others 23% Reasons for Lay-off
  • 14. Staying Off the Layoff List LAY-OFF - SURVIVAL
  • 15. Side effects of Layoff to the employee  Loss of wages and benefits.  Loss of role as worker and provider.   Loss of dignity and self esteem.  Loss of trust .  Loss of control over your life.  Loss of the pattern of daily life.  Loss of the work family.  Loss of collective strength.
  • 16. Alternatives to layoff • Restructuring the business •Closing of obsolete plants or branches •Administrative overhauls(revision) •Selling of non-core operations •Improving internal processes
  • 17. A Short video about LAY-OFF..
  • 18. 6 FAMOUS PEOPLE WHO FLOURISHED AFTER BEING LAID OFF
  • 19. WALT DISNEY Its hard to believe that the man who created Mickey mouse and co-founded one of the biggest motion picture companies ever faced rejection, but in 1919, Walt Disney was fired from his job at the Kansas City Star because he supposedly lacked imaginative ideas. Disney later set his insights on creating a cartoon series that spurred the mega media conglomerate known as The Walt Disney Company.
  • 20. J.K. ROWLING Before J.K. Rowling was writing about wizards and warlocks, the best-selling author was working as a secretary for the London office of Amnesty International. When Rowling's dreams of becoming a writer got in the way of her secretarial work, she got laid off. Rowling used her severance check to support her as she began to write the book series that would change her life forever.
  • 21. OPRAH WINFREY Long before Oprah Winfrey became the most successful female talk show host in television history, she was working as a TV news reporter at WJZ in Baltimore. After seven and a half months of co-anchoring at WJZ, Winfrey was pulled off the air because the producer felt she was too emotionally invested in her stories and was “unfit for television news.”
  • 22. MICHAEL BLOOMBERG Billionaire businessman and New York City Mayor Michael Bloomberg didn’t reach this level of success without falling a little here and there. When Bloomberg was a partner at the investment bank. Salomon Brothers, he and 62 colleagues were fired because the company was brought out. Bloomberg used his severance check to develop his own financial services company, which has made him the 18th richest person in the country.
  • 23. THOMAS EDISON Today, Thomas Edison is regarded as one of the most prolific investors in history. However, during Edison’s early years, he was called stupid by his teachers and was fired from his first two jobs for not working hard enough. Despite his failures and firings, Edison went on to invent some of the most remarkable devices like the light bulb, the phonograph and the motion picture camera.
  • 24. LANCE ARMSTRONG Cycling star and seven time Tour de France winner Lance Armstrong didn’t always come out on top. In 1997, Armstrong was fired from the French racing team Cofidis while he was undergoing cancer treatment. The team refused to give Armstrong the rest of his salary and medical coverage. Obviously, Armstrong went on to lead the United States Postal Service squad and take home a handful of victories.
  • 25. QUIZ TIME IT IS…