If you are counting on home shop work from the job, think again. Even
if there is the remote sense of a conflict of interest, you could be
tagged for the next round of layoffs. After all "you have a second
job". There are probably company policies that address this if you
were to dig deep enough.

I did do this for my employer once. I acted as a subcontractor to an
existing vendor. It worked but I never did that again.

Bob