50-somethings deal with down-sizing

[RamboLiberal]

http://www.pittsburghlive.com/x/tribune-review/trib/pmupdate/s_352149.html

<snip>

Fenwick is among the new class of forced retirees, 50-somethings stung by a wave of downsizing who now have to choose between dusting off their resumes or investing in that RV decades earlier than planned. All this at the point in their careers when they're supposed to be getting that corner office and settling into an upper management role.

Nearly 1.7 million workers nationwide aged 55 and older lost their jobs between January 2001 and December 2003 as a result of plants closing, insufficient work or elimination of their position, according to the U.S. Bureau of Labor Statistics. That number is 42 percent higher than the number of older workers who lost their jobs in the three preceding years.

Although a majority of displaced older workers found a new job in 2004, the average duration of unemployment was 25.8 weeks, according to the AARP. It took displaced workers in the younger age bracket, from 25 to 54 years old, an average of 18.9 weeks to find a new job. As many as 69 percent of those younger workers found a new job, compared to 52 percent for older workers.

"It used to be that a graduate from college got a job with a good company, kept their nose clean, got steady promotions until they got the corner office, and then they retired with their gold watch and a pension," said Geri Puleo, a career counselor based in Green Tree. "Now people must manage their career much more like a musician or artist: You're only as good as your last gig, you have to work with a coach and network constantly."

[MaineDem]

1. Been there, done that

I was "downsized" when I was 44. My husband,the same thing 6 months earlier. He was 50.

We even did the RV thing for a while. (anyone want a good deal on 32' motorhome?)

Thankfully, we were in a position that our companies gave us a pension even at that age. I can't imagine trying to find a job - a whole new career - at this age. So instead I'm emmersed in politics. Doesn't pay much though.

[Miss Chybil]

2. My husband's been laid-off from two jobs in the last five years. Both

times the company went bankrupt and the CEOs made a killing. He's 54.

[Mari333]

3. and women in their 50s

like me, still working crap jobs for little pay..even tho we are the most efficient and dependable workers in the workforce..Im selling all the assets I own now, and living like a pauper every day so I wont be old and poor.

[Dyedinthewoolliberal]

4. We could start a whole new forum

on those of us going through/having been through this kind of thing.
It happened to me and now I have a job that pays about half of what I made 10 years ago.
Career counselors like the one quoted in the article are self serving with comments like that. We are in a system where the contribution of a human being is less than a machine. A machine can be depreciated and upgraded. When the bean counters look at the books people are just a line item. The decision to lay off/down size/move the company off shore becomes that much easier because we aren't real......

[BiggJawn]

5. "...invest in that RV..."????

That's a laugh. Eating cat food cassolet is going to be more like it.

Even if I was PLANNING on having that big-assed RV, how the hell could I afford to feed it now? Those pigs get about SIX miles per gallon.

[Spinzonner]

6. This is a Freedom (French) spelling correction

cassoulet

And do you REALLY want to be fighting the cats ?

[BiggJawn]

7. Won't be any cats.

What do you think I'll be stretching the cat food with?
ah, well, at least I didn't put 2 "T"s in it...

[Spinzonner]

8. You related to Frist ?

[BiggJawn]

15. Naw, Frist kills for sexual excitement, not food...

:)

[teryang]

9. I fit into this category

lost my job, now in a starting position with half pay. The demands of the job are outrageous and getting worse. But some say it's not as bad as the same job in a major city. I'm kind of mystified by this because our area includes a 500K population base. Yeah, it could be worse, so that makes me feel better. Not!

This job has been described by a few colleagues as "the worst job I've ever had." I don't really know about that but it is very close to that. I'm amazed that I hear persons with decades of experience complaining frequently about the place where I am the new person. I'm trying very hard not to be negative. At my age, I can't really face pulling up roots and starting all over again, to get a higher salary but the combination of low pay, hard work, and verbal abuse is taking a toll.

[devilgrrl]

10. Perhaps 50 somethings shouldn't have voted for Reagan during the 80's!

You know these are the "Reagan Democrats" everyone was talking about.

[PassingFair]

19. Oh yea, the one's that ...

"Eddy" Schultz loves so much. I've heard about them....

[Deja Q]

11. The 50-somethings in 1982 were far more surprised by downsizing too...

All about money, as usual. Peoples' experience or loyalty became nothing thanks to reagan and is even less thanks to * and the treasonous act of offshoring.

Treasonous? You bet. It's going to come crashing in comparatively quickly if it continues.

Witness: "It used to be that a graduate from college got a job with a good company, kept their nose clean, got steady promotions until they got the corner office, and then they retired with their gold watch and a pension," said Geri Puleo, a career counselor based in Green Tree. "Now people must manage their career much more like a musician or artist: You're only as good as your last gig, you have to work with a coach and network constantly."

Too right. The WW II generation knew and appreciated loyalty and experience. Live to work. Not work to live. They were true pro-lifers. Society wasn't built on throwaway goods (or throwaway people) before reagan and especially before *.

[Karenina]

13. You're only as good as your last gig...

and even if the club owner made a killing, that may not be "good enough."

[UCLA Dem]

12. Its really hard to find a job at that age. I saw my Dad go through it.

[FloridaPat]

14. Another one here. Computer programmer who can't find a job

because computer jobs sent overseas, and/or too many programmers from India here. Every time there's a repub in the White House I have to have a career change. Getting a little old for career changes. I did find a job selling mobile homes. In Florida that's a good gig. It's straight commission though. Luckily my dad lives with me and his SS is paying the mortgage.

[yorkiemommie1]

16. school district did that to a lot of us

our jobs were already parttime but did have benefits. they laid us off, took the benefits. brought us back w/ fewer hours and NO benefits.

i was ok since i have benefits w/ husband. but most of the women were late 50s early 60s, single and with catastrophic diseases such as breast cancer.

we used to get to work early and be willing to stay late. now, we leave exactly on time no matter what. no more volunteering.

another hopeful sign is that the union got a foothold w/ our group this time...every other attempt for the last 10 years has failed. we have a rw school board, though, that might obstruct it. i'm not sure how these things work.

[Zorra]

17. And republicans want to raise the retirement age for SS. n/t

[union_maid]

18. Been there, living with the results

My husband's position was eliminated (read renamed and moved to India) in 2002. He was 52. He got the news just as he was ready to return from work after having a cancerous kidney removed. He got another job. He makes just over half what he did. He's got type 1 diabetes, severe neuropathy and is in no shape to supplement his income with extra work or manage his career like a musician. Our son is a musician. We know what that's like. There's a reason why our system used to include compensation for experience and seniority. You really need it when you're older.

Where we're lucky is that as long as his present company stays healthy and under the current management he'll at least have a job and an understanding organization to work for. Those are two big "ifs" though.

[barb162]

20. we have basically lost our sense of security through our work

Years ago you could stay at one place your entire life and collect the pension. Now, it's what's a pension. And there simply isn't job security anymore and older people really need it. Loyalty doesn't exist anymore.