[My employer] laid off about 20% of its workforce today.

[My employer] laid off about 20% of its workforce today. In the New York office, roughly 100 out of 350 people were let go. My particular corner of the [A client] account has been very slow for several weeks, so I've been operating under the assumption that I was going to be let go. I've been updating my resume, canceling my Netflix account, even picking out new hobbies.

I was right about one thing -- my department couldn't continue to afford me. However, I got something of a special deal. [CEO NAME], the CEO of [My employer], is an alumnus of Bain & Company, one of the very top-tier consulting firms. He's involved with a lot of charitable organizations, including the Bridgespan group, an arm of Bain that provides reduced-cost consulting to not-for-profit companies. The deal is that I'll take a pay cut, then get "donated" to Bridgespan for at least six months. During the six months, I'll be doing technology consulting for Bridgespan's not-for-profit clients. At the end of the assignment, I return to my job at [My employer] and full pay.

I'm really psyched -- my freelance work makes the offer easy to accept, I don't lose career momentum, I get to work in not-for-profit again, and I get to work through a Big Five consulting firm, in a group that Bain consultants clamor to join. This is one hell of an alternative to getting laid off.