1. Don't panic
While losing your job is a major life event, the emotional and financial implications can usually be overcome. You may be emotionally hurt, but you must react to the situation to minimize the long-term financial burden that arises from being unemployed.
While you make want to take a week or so to sit back and appraise your situation, in reality you now have a new full-time job – finding another job. Join a job-loss support group and starting networking.