Layoffs at 50
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Anonymous
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We are a Fed family and locally know mostly either other Federal employees or BigLaw/lobbyist employees.
We have some family in friends in a variety of fields, such as hardware tech companies, biochem, health insurance, etc and all of them seem to be going through rocky careers transitions in their 50s. Many have been laid off after being there for 20 years, then getting a new job for less money at a smaller company, rinse and repeat. Or they are just laid off and desperately trying to re-tool their careers and get back to work. Is it really that common to be laid off in your 50s, or is it just our skewed sample size with our friends and family? Obviously we don't encounter that at our workplace, but at same time we haven't sen the soaring stock values in an EPP so there are obvious tradeoffs. |
Anonymous
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I can see the culling at certain ages when you get too expensive for the work you do and you aren't getting promoted and there's younger people coming up through the ranks. It's hard but it's a real factor.
Not every firm does this. |
Anonymous
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Anonymous
I don't know if it's common but it happened to me at age 50. It's a snappy reminder that 90% of the people at any company are utterly replaceable. There is always someone cheaper and younger. |
Anonymous
| Where I work, it’s not uncommon to see people over 50 starting to leave. It really is the most vulnerable period in the company. The way it happens is that if there’s to be lay-off, they may either offer early retirement (55+) or just simply downsize. It’s a thing. |
Anonymous
This is true. I'm 50, and a contractor. IMO, it's easier for a company to retain a contractor than an employee of the same age for financial reasons. A 50 yr old contractor can cost the same as a 40 yr old contractor. Not so for FTEs. My spouse is also a contractor. Contracting may not be as stable as being an employee when you are younger, but as you get older, and especially if you're on a very long term project, I think it can be a bit more stable. |
Anonymous
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Got laid off last week at 57
Got laid off at 54 Before that never laid off. Job hunting again. Once you break 50 you start moving towards the old guy and highly laid. My last job made 360k and turn 58 in a few weeks. I am taking a big pay cut unless I am super lucky |
Anonymous
| I’ve seen this happen at my job too. Comms firm. It’s really sad. No idea how to prevent it. |
Anonymous
It is becoming the norm I am afraid. My DH laid off at 57. He freelanced until he got a job this January, and then was laid off six months later. I am almost 59 and waiting for the axe to fall |
Anonymous
Well a Fed only makes like $150, so it seems like you still come out way way ahead! |
Anonymous
What line of work are you in? |
Anonymous
| Yes x 1000 |
Anonymous
Audit - I like work so in office at 8am till 630pm and usually run departments as only adult in room. But that means only one job per dept for someone like me |
Anonymous
Pretty much. |
Anonymous
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I work for a firm of approximately 3,000 employees and it's employee owned and one reason why I'm never leaving my job is because the firm does not push people out the door when they hit a certain age. At all. The only downside to my firm is that we don't have the best salaries but our benefits are excellent, and I'm not taking the risk in jumping to another firm for a higher salary only to face ageism.
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