explanade
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 10, 2008
- Messages
- 7,449
Some reporting suggested that people were retiring early or just not going back to their jobs when pandemic restrictions lifted.
There was supposedly a noticeable update in early retirements.
Well some of it has reversed and according to this Twitter thread, it wasn't so much people retiring or not returning to their jobs as much as people who retired early but had to go back to their jobs.
That is normally how "un-retirement" goes, people retire not intending to work again but because of financial circumstances, they have to return to work.
During the early part of the pandemic, the "un-retirement" rate dropped. But now with higher costs of living, un-retirements have ticked up again.
Some tech companies have started requiring return to office, just when we could be starting another wave in the Bay Area. One Apple director resigned rather than comply. These days, a high percentage of the Apple corporate workforce (not the retail workers at the stores) are probably millionaires, just from employee stock purchase programs.
A director is probably worth 8-figures, though tech stock prices have dropped a lot in the last month too.
So it's only the professional classes with significant equity compensation who can afford to RE because the pandemic made them re-assess their priorities.
There was supposedly a noticeable update in early retirements.
Well some of it has reversed and according to this Twitter thread, it wasn't so much people retiring or not returning to their jobs as much as people who retired early but had to go back to their jobs.
That is normally how "un-retirement" goes, people retire not intending to work again but because of financial circumstances, they have to return to work.
During the early part of the pandemic, the "un-retirement" rate dropped. But now with higher costs of living, un-retirements have ticked up again.
Some tech companies have started requiring return to office, just when we could be starting another wave in the Bay Area. One Apple director resigned rather than comply. These days, a high percentage of the Apple corporate workforce (not the retail workers at the stores) are probably millionaires, just from employee stock purchase programs.
A director is probably worth 8-figures, though tech stock prices have dropped a lot in the last month too.
So it's only the professional classes with significant equity compensation who can afford to RE because the pandemic made them re-assess their priorities.
