Everyone I know is laid off by age 55

[Anonymous]

This is true and so sad. The healthcare issue alone in this atrocious.

[Anonymous]

It happened to me at age 55.

[Anonymous]

Banking. We just cleared out everyone 55+. Generous buyouts. But, we can replace 250k boomers with 75k millennials and even when we only get 2 yrs it makes sense.

[Anonymous]

Anonymous wrote:Banking. We just cleared out everyone 55+. Generous buyouts. But, we can replace 250k boomers with 75k millennials and even when we only get 2 yrs it makes sense.

You are discriminating because of age, breaking the law, and are proud of it!

[Anonymous]

Yes, very common in most corporate environments.

[Anonymous]

Laid off at 51, solid performance, kept up with skills, so hard to get an interview let alone a job.

[Anonymous]

Seems true, sadly. Trying not to upscale our lives too much in our 40s, staying in our first house, etc. Honestly we’ve had job instability the last few years, with one of us unemployed at any given time. Trying to ramp back to two incomes stat.

[Anonymous]

This is so depressing

[Anonymous]

Anonymous wrote:Banking. We just cleared out everyone 55+. Generous buyouts. But, we can replace 250k boomers with 75k millennials and even when we only get 2 yrs it makes sense.

Not if the skillsets are similar or less for the $75k.

[Anonymous]

I've definitely seen this in my own family, both genders.

[Anonymous]

Anonymous wrote:
... and then can't find another job. Seriously, this is messed up. Gone are the days companies keep someone until they are 60, much less 65.

Yes, people can consult, but then there's no healthcare.

Medicare needs to start at 60, no later.

Can't you buy a subsidized health care policy dirt cheap on the ACA exchange if your income is low?

[Anonymous]

Any other industries cleaning h o use that I should avoid?

[Anonymous]

Anonymous wrote:This isn’t new. It’s why the adea was enacted. My father was a professional with over 30 years at a company in the late 80s—they pushed out all the people over 55 at the site in my hometown by telling them they had to take a RIf package or they would be moved to an incredibly remote location. I knew so many people with fathers laid off or who had to relocate. They replaced my father with a guy in his 20s who did not know how to do the work at all.
Incidentally, that company then started to spiral downwards and is a shadow of its former self.

Boeing?!

[Anonymous]

This is a tough thread to read.

[Anonymous]

Anonymous wrote:This is a tough thread to read.

+1. DH is being forced to retire early. We’re fortunate to be debt-free but we’ll need to downsize a bit to be comfortable.