When your employer goes bust
It's every professional's nightmare: You're working in a great job for a well-regarded employer, then the company -- seemingly overnight -- suffers a crisis and is bought out or goes belly-up. Your career, which seemed golden just a few days ago, suddenly looks to be in jeopardy. And the pressure's all the worse if your savings were heavily invested in your employer's now-much-devalued stock. How can you protect your career from an employer's missteps? And what should you do if your company does implode? The Bear Stearns debacle should be "a wake-up call for anyone who isn't staying in touch with a wide network of contacts," says Rich Gee, an executive coach in Stamford, Conn.
See "When your employer goes bust", Anne Fisher, CNN Money, March 24, 2008