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Worst Month of Layoffs In Over a Year! What if Louisiana-Pacific is Affected?

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Healthcare Provider Update: Offers medical, dental, vision, life, and disability insurance, along with HSAs, FSAs, and wellness programs1. As ACA premiums rise and subsidies expire, LPs comprehensive benefits help employees avoid the financial strain of marketplace plans, especially through tax-advantaged savings accounts. Click here to learn more

As Louisiana-Pacific employees face job automation and layoffs, they need to focus on one thing — building a diverse skill set and staying mentally healthy,' advises Kevin Landis, a representative of The Retirement Group at Wealth Enhancement Group. “These measures will not only help to keep the job in the present situation, but will also improve the employee’s chances of finding work in the changing job market in the future.'


'Paul Bergeron from The Retirement Group at Wealth Enhancement Group advises that Louisiana-Pacific employees should focus on the development of their professional careers and networking in order to be ready for the potential changes in the industry,' adding, 'It is important to build a diverse career portfolio that can survive the changes that are likely to come with automation and layoff trends.'

In this article, we will discuss:

1. The Current State of Job Security: An analysis of the rising trend of layoffs in Louisiana-Pacific companies and the impending threat of automation in the job market.

2. Emotional and Psychological Impacts: A discussion of the various psychological effects of job loss, according to experts.

3. Effective Coping Strategies: Some tips on how to deal with stress that comes with layoffs and how to stay strong during career changes.

According to Forbes, 'According to the Bureau of Labor Statistics, employers cut 90,309 jobs in March, the most in any month since 102,943 jobs were lost in January of last year.'
 It is important for the Louisiana-Pacific employees to know that the employers are still firing a large number of workers.

It is predicted that 20 million manufacturing jobs will be lost to automation by 2030, and 37% of Americans are concerned about being replaced by artificial intelligence.  In addition, automation may put 73 million jobs in the United States at risk by 2030, which would be almost half of the current workforce. Given this fact, the Louisiana-Pacific employees who are worried about their job security are not alone.  About 48 percent of Americans have job loss anxiety.

In a Forbes article, Dr. Gregg Jantz, the founder of the counseling and treatment center: A Place of Hope, and the author of several best-selling books, including The Anxiety Reset Continued explained that after death, job loss is one of the most stressful events in people’s lives.  'People feel a betrayal of trust, particularly when the job loss is unexpected. It's so distressing.'

As more headlines about tech industry layoffs are making the news, it can be difficult for Louisiana-Pacific employees to control their emotions. Dr.  Jantz said the typical response to betrayal is rage. The feeling that the employer did not respect or value you is a sense of injustice. It makes people very angry when they feel that their employer does not appreciate their efforts.  You want to get your revenge, retaliation, and revenge against those you think have wronged you.

In addition, Dr. Jantz points out that “Our country is in the midst of a mental health crisis.” The most common diagnosis in the United States is anxiety, followed by depression.  When a person loses their job, these emotions increase. It is important to note that 40% of Americans have been laid off or fired at one point or another during these times. Although this may not solve your problem, you may find comfort in knowing that others have been in the same boat that you are in.  These feelings should be recognized and not acted on to your own detriment.

What Not To Do When Being Laid Off

Don't Leave Without Saving Critical Documents It is recommended to save personal or professional documents from your work computer on a regular basis.
 Some employers will escort terminated employees off the premises or immediately restrict their access. It is crucial not to be left with no important information.

Don't Discuss Termination Before Taking Time to Process When you are laid off, you may feel angry and stressed.
 You may have these emotions when interacting with management, which may be counterproductive to your goals. Let’s meet in two days and have this discussion. In the meantime, check on the company’s policies and practices so that if you can, you are ready to try to negotiate a reasonable severance package.  However, if you are unable to delay a decision on a severance package should it be offered, you should consider the terms and whether it is worth negotiating to obtain a more comprehensive package.

Don’t Refuse to Help With the Transition In order to ensure a smooth transition, you will be considered as a good employee and may get some references and recommendations from your superiors.
 No matter what situation you are in, it will always be better for you to be nice. At the very least, you will have made an honest effort to assist your employer which may result in a positive reference.

Don't Ignore the Opportunity to Resign Sometimes, resignation might be a way out of termination.
 There are advantages and disadvantages of quitting a job on your own will rather than being terminated. You may lose your unemployment benefits if you resign but sometimes you stand to gain. In any job interview, you will not be required to explain why you were fired, which can be embarrassing.

Don't Be Afraid to Request a Reference If you have good coworkers, you can ask them for a recommendation when you are still in touch with them. You can use their recommendation when you are looking for your next job.


Do Not Miss the Opportunity to Ask Why If your employer has not followed company policy on due process, you may be able to apply to human resources for more time to improve your performance. You may also be protected by an employment contract, a union contract, or an anti-discrimination statute.

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Don't Quit Without Investigating Other Positions at the Company If your superiors think you are a positive employee and have a good work ethic, there may be other positions available for you within the company. If your employer knows that you are willing to take any position, they may consider you for positions that are more suitable for your skills.

Don't Announce Your Firing Immediately Take a moment to consider what you want to say, and how you want to be perceived by your colleagues and other professional contacts before you inform everyone that you are out of a job.


Factors to Consider

If a hypothetical Louisiana-Pacific employee is laid off, it can be a difficult issue to face. Transition is always a process that is often accompanied by negative feelings that reduce the employees’ efficiency. According to experts, those who have been laid off may tend to feel helpless, anxious, and negatively biased towards themselves.
 It is important to have these feelings, but you should not let them control you. If you give these types of thoughts too much credit, you may prevent yourself from moving forward to a better future and may end up doing something you may regret.

It is important not to vent on social media about your former employer when you are fired. For Louisiana-Pacific employees, even if they are mistaken, you have much more to lose. By giving yourself 24 hours, you are given time to reduce the intensity of your feelings.  You will become a victim if you allow yourself to be overwhelmed by anger and send nasty emails that will prevent you from getting a job in the future. In addition, if you express anger and feelings of betrayal, you may appear to be at fault, which is extremely counterproductive in an interview setting.

Louisiana-Pacific employees may also help narrow down their words and only use them to close friends and relatives. 'Be mindful of what you do to the people around you, such as venting continuously, being irritable, and projecting your anger onto others.
 You are telling it to your loved ones, even though they had nothing to do with this event. This is not how you should express your emotions.' Dr. Jantz gave advice.

Adaptation Strategies for Louisiana-Pacific Employees

It is crucial for Louisiana-Pacific employees with overwhelming emotions to practice good self-care and be resilient.
 When confronted with anger, contributing positively to your nutrition, sleep, and physical routine may prove beneficial. Walking, working out, and exercising are all methods of anger management. In addition, writing down your emotions, not engaging in self-destructive behaviors, and the knowledge that you cannot punish yourself for what has happened are also ways of dealing with these intense negative emotions.  One must also reconsider and reevaluate and determine what needs to be done in order to strengthen and improve health. Those who formerly worked for Louisiana-Pacific are more likely to exhibit depressive symptoms if they isolate, stay indoors, and constantly withdraw.

While it is important for Louisiana-Pacific employees to consider their work as part of their identity, it is dangerous to make it your only identity. In a study conducted by the Journal of Frontiers in Psychology, individuals who reduced themselves to their jobs felt dehumanized, like a machine or a tool, and had higher levels of disengagement, depression, and burnout.
 Therefore, Louisiana-Pacific employees may also find it helpful to understand the concept of self-complexity. Self-complexity refers to the number of characteristics that define the important aspects of who you are. The more diverse your personality is, the more resistant you are.  Hence, it is important to build a diverse self-identity, as you would a diverse portfolio of investments. You can develop self-complexity and build your identity across various areas of your life. Therefore, when things are not going well at work, you will not feel like you have nothing left.  You may decide to spend time on your interests, religion, or health. It is possible that Louisiana-Pacific employees may reduce feelings of depression and anxiety towards work after being laid off if they are persistent and always strive for success.  It is important to ask oneself, 'Am I angry and bitter? Is fear and anxiety all around me?' Use positive encouragement to tell the person that there is nothing wrong with them and that they are going through a tough time in their life.

Sources:

1. Zippia Team. '35+ Shocking Statistics About Automation and Job Loss in 2023: Are Robots, Machines, and AI Coming for Your Job?' Zippia, 2023.  https://www.zippia.com/advice/automation-and-job-loss-statistics/ .

2. Zippia Team. '23+ Artificial Intelligence and Job Loss Statistics [2023]: How Job Automation Impacts the Workforce.'  Zippia, 2023.  https://www.zippia.com/advice/artificial-intelligence-and-job-loss-statistics/ .

3. Zippia Team. 'Get the Job You Really Want.' Zippia, 2023.  https://www.zippia.com/answers/how-many-jobs-are-going-to-be-lost-to-automation/ .

4. Zippia Team. 'Get the Job You Really Want.' Zippia, 2023.  https://www.zippia.com/answers/will-ai-cause-job-losses/ .

5. Zippia Team. 'Get the Job You Really Want.' Zippia, 2023.  https://www.zippia.com/answers/which-jobs-are-most-at-risk-of-being-automated-by-artificial-intelligence/ .

6. 'Automation and Job Loss Statistics.' Zippia, 2023.  https://www.zippia.com/advice/automation-and-job-loss-statistics/ .

7. 'How to Deal with Layoff Anxiety.' Harvard Business Review, September 2022.  https://hbr.org/2022/09/how-to-deal-with-layoff-anxiety .

8. 'Top Things Not to Say or Do If You're Fired.' The Balance Money. https://www.thebalancemoney.com/top-things-not-to-say-or-do-if-you-re-fired-2063942.

What is the primary purpose of the Louisiana-Pacific 401(k) Savings Plan?

The primary purpose of the Louisiana-Pacific 401(k) Savings Plan is to help employees save for retirement through tax-deferred contributions.

Who is eligible to participate in the Louisiana-Pacific 401(k) Savings Plan?

All full-time employees of Louisiana-Pacific who meet the age and service requirements are eligible to participate in the 401(k) Savings Plan.

How can Louisiana-Pacific employees enroll in the 401(k) Savings Plan?

Louisiana-Pacific employees can enroll in the 401(k) Savings Plan by completing the enrollment form available through the company’s HR portal.

Does Louisiana-Pacific offer a company match for 401(k) contributions?

Yes, Louisiana-Pacific offers a company match for employee contributions to the 401(k) Savings Plan, subject to specific terms and conditions.

What types of contributions can employees make to the Louisiana-Pacific 401(k) Savings Plan?

Employees can make pre-tax and, in some cases, after-tax contributions to the Louisiana-Pacific 401(k) Savings Plan.

Are there any limits on how much I can contribute to the Louisiana-Pacific 401(k) Savings Plan each year?

Yes, the IRS sets annual contribution limits for 401(k) plans, and Louisiana-Pacific adheres to these limits.

How often can Louisiana-Pacific employees change their contribution amounts?

Louisiana-Pacific employees can change their contribution amounts at any time, subject to the plan's rules.

What investment options are available in the Louisiana-Pacific 401(k) Savings Plan?

The Louisiana-Pacific 401(k) Savings Plan offers a variety of investment options, including mutual funds and target-date funds.

Can Louisiana-Pacific employees take loans against their 401(k) savings?

Yes, Louisiana-Pacific allows employees to take loans against their 401(k) savings, subject to specific plan provisions.

What happens to my Louisiana-Pacific 401(k) savings if I leave the company?

If you leave Louisiana-Pacific, you can choose to leave your savings in the plan, roll them over to another qualified plan, or withdraw the funds, subject to tax implications.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Name of the Plan: Louisiana-Pacific Pension Plan. Pension Formula: The plan uses a traditional defined benefit formula, which is calculated based on years of service and average compensation. Years of Service Requirement: Employees generally need to accumulate a minimum of five years of service to be vested. Age Qualification: The typical retirement age is 65, but early retirement options are available starting at age 55 with reduced benefits. Company Acronym and Terminology: The pension plan is commonly referred to as "LP Pension Plan" within internal documentation. Louisiana-Pacific 401(k) Plan: Name of the 401(k) Plan: LP 401(k) Savings Plan. Eligibility: Employees are eligible to participate from the first day of employment. Company Matching Contributions: Louisiana-Pacific provides a matching contribution, typically matching 50% of the employee's contributions up to 6% of their salary. Vesting: Employees are fully vested in their contributions immediately, while company contributions vest after three years of service. Company Terminology: Internally, this is referred to as the "LP 401(k)" and includes standard financial terms like "deferral" and "matching."
Restructuring and Layoffs: In 2024, Louisiana-Pacific Corporation (LP) announced it would cut back on operations at five North American mills due to low demand and product pricing​ (FloorDaily). This restructuring is expected to lead to minimal layoffs at the affected facilities. LP also announced mill closures and production curtailments across Texas, Georgia, and Wisconsin​ (Go Layoffs). This news is critical to address because of the ongoing economic uncertainties, which have been exacerbated by rising inflation and fluctuating demand in the construction materials sector. Companies in this industry must remain flexible to avoid significant financial impacts while protecting their workforce and ensuring long-term viability. Given the current political and tax environment, such restructuring decisions can have far-reaching effects on both employees and the local economy, making it essential to monitor developments closely.
Louisiana-Pacific (LP) Stock Options and Restricted Stock Units (RSU) Overview Louisiana-Pacific Corporation (LP) offers its employees stock options and RSUs through the 2022 Omnibus Stock Award Plan. The RSU award grants employees the right to receive company shares upon vesting, typically over a period of three years. Louisiana-Pacific employees eligible for these awards include senior executives and other high-performing employees. Under this plan, RSUs are awarded at the discretion of the company's administrator, allowing for a retention of shares to satisfy tax obligations at the fair market value of the shares on the date of delivery​ (Louisiana-Pacific Corporation)​ (Justia). In 2022, LP's stock options and RSUs were available to both management and key employees as part of a broader incentive structure to align employees' interests with shareholders. The eligibility criteria were expanded in 2023, allowing more mid-level employees to participate in the equity compensation program. By 2024, Louisiana-Pacific continued to refine its compensation plan by adjusting vesting periods and tax treatment options to comply with updated federal regulations​ (Louisiana-Pacific Corporation)​ (markets.businessinsider.com). Louisiana-Pacific offers stock options and RSUs as part of its incentive-based compensation, ensuring employees can benefit from the company's financial success. These stock options are generally granted with a fixed exercise price, while RSUs vest over time without requiring any purchase from employees​ (Justia)​ (Louisiana-Pacific Corporation).
Louisiana-Pacific Corporation (LP) offers a comprehensive range of healthcare benefits to its employees, designed to support their well-being while also being competitive in the industry. The company provides full-time and part-time employees with medical, dental, and vision coverage, including a wellness program that incentivizes healthy behavior. These benefits extend to dependents and domestic partners, ensuring broad support for employee families. In 2023, LP enhanced its healthcare options to include flexible telemedicine services and an expanded mental health program, reflecting growing trends in the industry toward supporting both physical and mental well-being. With healthcare costs rising significantly, LP's focus on a holistic benefits package helps mitigate some of the economic pressures felt by employees in today’s challenging economic climate​ (LP Building Solutions)​ (Louisiana Health Connect). In response to the broader economic and political environment, LP has also adapted its healthcare offerings to account for inflationary pressures on healthcare costs. For example, in 2024, the company implemented measures to absorb part of the projected 5.4% increase in healthcare costs, preventing significant cost burdens from falling on employees. Additionally, LP's safety and health initiatives, as outlined in their sustainability reports, have been crucial in maintaining workplace health, particularly as global health risks have increased. The company’s decision to prioritize safety training and offer preventative health resources exemplifies its proactive approach in a politically charged healthcare landscape. These efforts help ensure that LP remains an attractive employer, retaining talent amidst economic uncertainty​ (LP Building Solutions)​ (Louisiana Health Connect).
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For more information you can reach the plan administrator for Louisiana-Pacific at , ; or by calling them at .

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