I have worked for a medium sized corp for 30 years. It was a family run company with a very strong reputation for doing right by their employees when I first started working there.
At some point the president retired, and the new CEO made the company a public company on the NY stock exchange. Out with old management. Lots of new guys, and their buddies from the last corporation that they "helped".
The flood gates opened, and the layoffs began.
- First some lower performers to keep the company lean.
- Then a large batch of good performing older employees with a scattering of younger employees to make it legal.
- Recently they shutdown a plant in a different location. This included many younger employees. They decided to take advantage of this situation by legally purged 30-40% of the over 55 employees at the locations in my state. Many of these older people were excellent long time employees, but they didn't care, out they went.
I realize anyone can be replaced, but the last batch of workers knew what they were doing, and a large amount of what I would call "native" knowledge walked out the door with them. All sorts of problems and screw ups are happening, but I guess that doesn't matter. Money was saved. The new workers will figure it out at some point.
If there ever was a reason to make FIRE plans, this kind of corporate BS is a good incentive. I will be part of the FIRE class of 2019. I'm sure glad I don't have to try surviving in this environment for another 15-20 years.
Take care, JP