I have been a director with a $20M revenue company for only 18 months. The company is struggling with flat to declining revenues and with liquidity. Moreover, while my team has clearly out-performed, I would rate my performance as good, but not great (I made at least two high-profile errors). My boss, who is the President and a MT manager, gently informed me about three months ago that it was time for me to resign. He gave me seven weeks lead time. During this time I told no one at work, continued my work, readied everything for a clean hand-off, and warmed up my network. A few days before what was to be my last day on the job, my boss asked me to extend my work on an ad hoc basis for another month or so, at which time we would talk again about a possible extension. Thankfully, this arrangement has given me a chance to pursue new work while still employed, and to organize an effective transition at work. I appreciate that my boss trusted me to bring my game and act as a professional during this period.
An email was just broadcast to the entire firm, stating that I was leaving in a week, thanking me for my service, and wishing me well. This is how I found out that my employment would not be extended, and yes, I would have appreciated an advance notice before this announcement went out...... Now I need to be ready to answer the inevitable questions that will come from work colleagues. I am considering something like the advice given in the "Getting Fired Shownotes", e.g.
"The company and I have agreed that my performance over the past year and a half has not fully met expectations. It's been a great opportunity. I enjoyed working with the team. I've learned a lot and I look forward to applying my strengths to new role where I can be more successful."
I think I can deliver this answer well, as it is the truth.
Recommendations, comments, advice from the forum would be welcome.