By PHYLLIS KORKKI

Q. You work in the financial services industry, and you’re worried about your job. What can you do to prevent losing your job, or at least lessen the effect?
A. First, don’t let rumor and fear take over. That could cause you to make an impulsive decision that you will regret. “Fear is your biggest enemy right now,” said Marc Cenedella, founder and chief executive of TheLadders, a job site for high-income workers.
Gather as much information as you can about your company and your industry; that will calm you and give you a sense of control amid uncertainty, he said.
Don’t rely on rumors for your information. Talk to your direct supervisor, and even go one or two levels above that person to find out whether your job is at risk, advised Jon E. Zion, president of Eastern United States operations for Robert Half, the financial recruitment agency.
Regardless of what you hear, though, accept that your industry is in turmoil and that you could be affected. Even if you aren’t an employee of Lehman Brothers, Merrill Lynch, American International Group or another troubled financial services firm, you should have your resume ready and your references in place .
Join an online professional networking site, if you haven’t already. Assemble a list of friends, former colleagues, fellow alumni and professional contacts, and revive your networking skills.
But don’t ask the people in your network if they know of any job openings because the answer will almost always be no, said Stephen Viscusi, author of “Bulletproof Your Job.” Rather, ask if you could simply meet with someone at their company, he said. Framing it as an informational interview will make it easier to meet with someone who is in a position to hire you - and maybe even create a position that makes use of your unique skills . “Once you get that meeting, use it to sell yourself and create the opportunity,” Mr. Viscusi said.
Q. If your firm is facing layoffs, or you fear that it might, is there anything you can do to ensure that your job doesn’t get cut?
A. At a certain point, layoffs are out of your control, but you can take steps to minimize your chances of losing your job. Make sure your skills and contributions to your firm are known to your boss and others, said Mark Anderson, president of ExecuNet, an executive recruiting firm.
It helps to have a personal relationship with your boss. “It’s hard to fire someone that you know and you like personally,” Mr. Viscusi said. “It’s easier to fire someone who’s telecommuting” because that person is out of sight, he said. “It’s easier to fire someone you don’t like even when they’re a good performer.”
Focus on doing good work, no matter how distracted you may feel. Try to have a positive effect on the organization rather than complaining and gossiping.
Q. What if your company or unit is being acquired or is rumored to be an acquisition target- Should you run screaming for the door?
A. “A merger is not necessarily bad for everybody,” Mr. Zion said. “It could be a career plus for you.” It’s true that mergers and acquisitions often lead to job cuts, but the last thing a firm wants is a big talent drain, he said.
Do not make any abrupt moves until you are sure how you will be affected, he said.When it comes to mergers, “far fewer people are asked to leave than what you might think, Mr. Zion said.
Q. The fact remains that many people in financial services are losing their jobs. If you do end up as one of the jobless, how do you distinguish yourself from the hordes of other workers competing for employment in a rapidly contracting industry?
A. “Assess your skills and what problems you solve for your current employer,” said Mr. Anderson.
Then determine how these skills might transfer to a different company, a different job title or even a different industry, he said. These underlying skills could include things like sales, marketing, negotiating, presentations and management.
Differentiate yourself by emphasizing the results the produced for your company, and avoid blaming your former company or boss for your current situation, Mr. Anderson said.
If you can’t find a permanent job, consider taking a temporary assignment, Mr. Zion said. This will keep your finances healthy and put you in the stronger position of having a job while you look for a job.
Don’t let the news give you a skewed view of the marketplace, Mr. Anderson said. “We’re seeing growth in the executive job market,” he said. One reason is that smaller companies are still hiring, he said, so make sure to find and include them in your search.
“Just because financial services is down, don’t believe that there are no opportunities and lose hope in the process,” he said. “It only takes one job. Keep your perspective.