I don't know about GISM....hmmm.... but anyone over fifty anywhere had best not lose their job. You won't get another one.
Correction. You can get another job, if you are in good health, can walk as spry as the youngest worker, and are willing to start over at the bottom at a much lower salary.
This is the reality of age discrimination in our workplace today. It doesn't matter which political party is in power. The only defense against this reality is to save your money to tide yourself over for the lean days of your later years. And work is available, but it may involve you starting your own home-based business.