As an advisor who assists clients in managing layoffs, I offer my top tips for preparation.

• Recently, substantial numbers of employees have been let go by companies such as The Los Angeles Times, Google, Amazon, Macy's, and Paramount.
• If you suspect layoffs are imminent at your company, there are several steps you can take to lessen the impact and facilitate a smooth transition to a new job.
• Smart moves include building an emergency fund, seeking references and updating job search materials.

It looks like 2024 could be the “Year of the Layoffs.”

Recently, substantial numbers of employees have been let go by companies such as The Los Angeles Times, Google, Amazon, Macy's, and Paramount.

Could your company be next?

Over the past two decades, I have assisted numerous clients in overcoming life-shaking layoffs. My advice to you is to act promptly.

If you suspect layoffs are imminent at your company, there are several steps you can take to prepare for the possibility of job loss and make the transition to a new job as smooth as possible.

1. Build an emergency fund, tighten up your budget

To ensure financial stability, it is recommended to have enough money in your emergency fund to cover six months of living expenses. To manage your finances effectively, review your budget or create one, and assess your medical needs and job skills. A free resource is available at http://financialfirstaidkits.com/ with steps to take now.

2. Get ready for a job hunt

It's wise to update your resume, LinkedIn profile, and cover letter, even if you feel confident in your current job.

3. Customize your LinkedIn preferences

LinkedIn is a great platform to start your job search as it has a rich network of connections and tools to help you quickly find job opportunities. To make your profile more visible to recruiters, you can set up the #OpenToWork feature on LinkedIn and specify the types of job opportunities you're interested in and your preferred location. This will help you tailor your job search and make it easier for recruiters to find you.

You can choose who can see your job-seeking status on LinkedIn. The "All LinkedIn Members" option includes recruiters and colleagues, and adds the #OpenToWork photo frame to your profile. If you select "Recruiters Only," your status is visible to LinkedIn Recruiter users, but complete privacy cannot be guaranteed.

4. Network and connect

Building connections is a valuable aspect of networking, regardless of your job status. To avoid appearing as if you are job hunting, make a list of former colleagues and bosses and reach out to them. Additionally, ask colleagues and work friends privately for leads on other job opportunities. Lastly, connect with your colleagues on your preferred social media platforms.

LinkedIn is a great platform to explore its global professional network, job and internship search, Networking Hub, and skill development features.

5. Get your references in order

It's wise to have references ready in case you lose your job and need to find a new one.

To make your future employer's job easier, get a strong reference in writing and post it publicly on your LinkedIn profile.

6. Add to your skill set

Enhancing your job skills and expanding your skill set can enhance your career prospects, regardless of whether you are laid off or not. Examining job descriptions in your field can help you determine which new skills you need to acquire. Obtaining certifications or taking courses can make you more competitive in the job market, making you more likely to be promoted or hired.

There are various options for acquiring artificial intelligence knowledge, including courses offered by Microsoft, Google, Nvidia, and Corsea. These courses can be found on community college websites, LinkedIn Learning, and other online course libraries.

Getting your financial affairs in order is always a good idea.

By reducing stress, you can improve your financial and mental well-being. Taking proactive steps can help you prepare for future career growth and planning. It's a wise decision.

Winnie Sun, co-founder and managing director of Irvine, California-based Sun Group Wealth Partners, is a member of the CNBC Financial Advisor Council.