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Many individuals are facing job losses, leading to increased stress and potential conflicts. Luke Kumanchik from Honeycrisp addresses three critical IT concerns regarding employee termination. First, regarding property, companies need to ensure they have signed receipts for all equipment issued, such as laptops, tablets, and phones. Second, access to email and files is crucial, as employees may forward sensitive information to personal accounts. Managers should know how to check access across systems. Lastly, it's essential to manage passwords, since employees might share or retain access to accounts, potentially compromising security.