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Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-09-2005, 09:49 PM   #1
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Article about 50 yr olds getting the boot (supposed to be new trend)

Don't mean to scare anyone approaching 50 but read this:

http://www.fortune.com/fortune/caree...ml?promoid=aol
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-09-2005, 09:56 PM   #2
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

Not a very new trend. My old employer was well known for this maneuver.

Had a tricky way of doing it though. Wanted all employees to develop "significant new skills" every year or be "trended 'slower'". A persistent 'slower' got pushed out the door after a short while.

Of course, younger employees tend to develop a lot more 'significant new skills' than someone over 50. Be damned if they're a smart and capable employee...we want a young kid thats gonna sit in their cubicle for 80 hours a week...:
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 10:10 AM   #3
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

<<<<< future young kid that will sit in his cubicle for 80 hours a week*
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 11:13 AM   #4
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

Good luck...at least you dont have to worry about getting the axe due to age.

The unfortunate part of this shortsighted management directive is that the 50 year old guy that isnt "developing" often solved problems in 10 minutes that would have been "driven on" by the aggressive long hours working 25 year old for a month.
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 11:16 AM   #5
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

Wish I would get the boot. I'm trying to hang on 19 more months but it's gonna be a long 19 months. Got a board meeting this week thats gonna be very unpleasant. Oh well, we all have our problems while working. *
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 11:24 AM   #6
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

You can have fun at board meetings!

I was once asked to give a chronology of how something happened with one of our products. I asked how far back I should go. "From the very beginning".

So I said "First...the earth cooled...then came the dinosaurs...then the product that we're talking about started being developed...then the dinosaurs went away...".

When everyone stopped laughing, it was a much looser meeting.
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 11:33 AM   #7
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

Quote:
Originally Posted by th
You can have fun at board meetings!

I was once asked to give a chronology of how something happened with one of our products.* I asked how far back I should go. "From the very beginning".

So I said "First...the earth cooled...then came the dinosaurs...then the product that we're talking about started being developed...then the dinosaurs went away...".

When everyone stopped laughing, it was a much looser meeting.
No fun here. One member is being stripped of some responsibilites and pay. But you do do what you have to do.
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 11:42 AM   #8
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

Quote:
Originally Posted by DOG50
No fun here. One member is being stripped of some responsibilites and pay. But you do do what you have to do.
Tell him that you're trying to further him along to RE... but maybe not FI*
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 12:47 PM   #9
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

Quote:
Originally Posted by fire5soon
Tell him that you're trying to further him along to RE... but maybe not FI*
Yeah! Thats a thought.....he's almost 63 anyway so this could encourage him to move into retirement! On the other hand he may think that is what we are trying to do and go talk to an attorney.*
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 01:26 PM   #10
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

Although I'm a bit older (57), I got laid off several weeks ago after working 21 years for my former employer. They started 1st by cutting 33% of my salary 2 years ago and slowly reduced my responsibilities as well. I still was making a excellent salary after the cut.
They actually did me a favor since I had unofficially planned to ER in late 2005 or early 2006. The separation package I got was a pleasant surprise as I didn't expect it.

MJ
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 01:28 PM   #11
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

A guy I work with is going through this right now. We just had a re-org and when the music stopped he didn't a have a chair. He's about 54 I think. His daughter still has two years left in college. He's interviewing for just about anything else available in the company right now. Meanwhile he's training the guy that will be taking over his responsibilities. Talk about bitter...
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 01:38 PM   #12
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

Hmmm

Age 49, layed off 1993, 23 years with the company - no great shakes as to separation package except 16 wks severance pay - plus 13 wks unemployment -* which I stretched till it squealed.

Did I forget to repeat - "a 'really' cheap SOB - one time only personal best - 12k/yr - enshrined in the mists of memory and tradition.

Wild and frivolous nowadays - in comparason.
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 06:11 PM   #13
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

There are two pillars to my FIRE decisions. First, I don't want to work until I'm 65 or older. Not sure if I can take it. But the other rationale is a fear of this very scenario. Should I get the boot somewhere at 50 I don't want to be in a position where I'm having trouble making ends meet because no other opportunities are available. Should I ever face this situation I want to be able to take it like some others have here already, as a godsend.
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-10-2005, 07:47 PM   #14
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

AE,

I agree 100%...it always better to be on the other side of the fence.
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-11-2005, 07:58 AM   #15
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

I saw this happen to my Dad in the 80s when it was still very unusual in Germany. He never made peace with it till he passed away. It was so sad to watch.
This motivated me to plan for ER.
I work in corporate world and have seen it everywhere these days.
Cost cutting is one issue. Also hardly any superior wants to work with staff that is older = more experienced than he/she is.
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-11-2005, 09:10 AM   #16
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

Congratulations MJ.

Enjoy your freedom !!
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-11-2005, 03:46 PM   #17
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

The Fortune article which wildcat posted the other day strikes me as very real. I have friends all over the country who are either underemployed or unemployed -- and clearly age is a major factor.

As the article notes, however, it is almost impossible to prove age discrimination from a legal perspective, which means that more and more of us "aging baby boomers" will be retired early whether we desire it or not. For those of us who desire FIRE and have planned for it, that may not be a bad thing; but for most of our cohort, it has the possibility of being genuinely tragic.
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)
Old 05-11-2005, 07:50 PM   #18
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Re: Article about 50 yr olds getting the boot (supposed to be new trend)

My history:

In 1976 I got crossways with my partners and quit as CFO
of a small manufacturing co (no job lined up).

In 1980, I was running a larger manufacturing company that
went into Chapter 11. The Receiver fired me (no job lined up).

In 1987, I was running a medium sized manufacturing company,
got crossways with my partners and got fired (again).
(no job lined up).

In 1990, I was consulting in manufacturing and my main
client hired a fulltime guy. Out again.

In 1993, I shut down my own company and in effect put myself out of work.

Now, the interesting thing is that none of these events caused
me any real angst. To the contrary, each separation felt
quite positive and renewing. I'm a different breed of cat, no
question.

JG
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