LAYOFFS FOR LAUGHS

ELIZABETH HOAK, AN ACCOUNTANT IN New York City, has been downsized twice in the past 3 1/2 years. In each case she was told that her fate did not reflect her performance: nothing personal. Right. "You never quite get over the feeling of unfairness," she says. "No matter what they call it, you always feel as if you've been fired, and fired for no good reason." Still, Hoak had no choice but to do as millions of Americans have done: she resumed the job hunt. The second time, she says, "it was tough. But it became a little ritual. Each morning...