Is 40 the New 65?

[bill3173]

On the major med side, I've only written referrals for the last couple of years, but in the last several months, a majority have been people 41-55 that have been kicked out of their jobs. Some were near the "retirement" age with the companies that they worked for and were terminated to avoid large severance, and french benefits.

When I first started working in manufacturing in the early '90's, it wasn't uncommon to see smiling staff people in their 60's getting retirement parties, well wishes, etc. By 2000 people over 50 were being hunted down, if they weren't in key positions or very well liked.

Now it seems that at 40 you're in deep **** if you're not a prize cow or something.

 

[WinoBlues]

On the major med side, I've only written referrals for the last couple of years, but in the last several months, a majority have been people 41-55 that have been kicked out of their jobs. Some were near the "retirement" age with the companies that they worked for and were terminated to avoid large severance, and french benefits.

When I first started working in manufacturing in the early '90's, it wasn't uncommon to see smiling staff people in their 60's getting retirement parties, well wishes, etc. By 2000 people over 50 were being hunted down, if they weren't in key positions or very well liked.

Now it seems that at 40 you're in deep **** if you're not a prize cow or something.

I could probably handle some those benefits.

I would have to agree with you. In my own book of business it seems I have more unemployed 50+ people than 30 somethings. In today's economy you can hire a kid with a BA to mow your lawn or order frys with that from a young woman that a year ago was commanding a dozen people using multi million dollar equipment.

 

[popijr16]

Thats a shame. Companies should see the value in retaining their key employees. Sure; some(owners,ceo)may see it as a way of cutting cost by hunting down some of the old guard,but my opinion is that; ok! You get rid of a older employee to hire a young fresh out of school,no experience. Now the pay for training comes in,also what happens when it takes a mistake by a inexperience employee that the company has to bite the financial bullet for;Lastly, at some point if the younger employee stays and does at this point get his occupation down pat,remember he/she is a college grad,so the company has to match the price to them because of pay grade levels(just to be honest). so let's,add that up....sounds to me,keeping the older employee in place and letting them finish out there tenure sounds a lot more cost effective then letting him/her go. Whose going to train the neophyte????? hmmm.

 

[LGilmore]

What you have to look at along with this trend is how management has changed....

In the days you recall, management grew right along side the workforce, invested in the company, knowing the product, actually spent some time on the shop floor so to speak.

Then the "management revolution" took over. Managers became people managers with the thought they could be plugged into any business, any situation. They share to loyalty to the workforce or the product for that matter. They were trained and educated to only look at the cost of doing business. They no longer worked their way up from the floor, or had a hand in the design of the product. They were "managers" and could interchange between "tires" and "trees" without skipping a beat. Mainly because they never had to take the time to know the product or employees.

It is much easier to cut loose "family men and women" who have worked decades for a company, when you have nothing in common with them.

This is what the "IVY" leauge really brought to business. People who never "created" anything in their lives, but their supposed skill is in people management. Yet they never interact with people below their immediate staff and division heads.

 

[ABC]

It's an economic issue.

If you have ever looked at a P&L statement in manufacturing it's a eye opening.

The profit margins continue to go down. These companies are forced to adapt to the economic conditions.

All my manufacturing client at one time had over 100 employees. Today they avg. 30.