Market cap July 1, 2012: $3.5B CDN
Market cap December 28, 2018: $1.6B CDN
Posted on 12/30/2018 6:14:10 AM PST by Galatians328
A new data analysis by ProPublica and the Urban Institute shows more than half of older U.S. workers are pushed out of longtime jobs before they choose to retire, suffering financial damage that is often irreversible.
(Excerpt) Read more at propublica.org ...
Happened to me a couple years ago. Sucks.
Up or out. It happened to me in my 40s.
“Through 2016, our analysis found that between the time older workers enter the study and when they leave paid employment, 56 percent are laid off at least once or leave jobs under such financially damaging circumstances that it’s likely they were pushed out rather than choosing to go voluntarily.”
And this probably was brought on by a worthless Harvard MBA who was running the firm for which he worked. Harvard MBAs are among the most worthless people with whom I have ever had contact. They are imbued with the mistaken idea that their $hit doesn’t stink, although they know really very little about business and they treat people around the deplorably. The country would ream untold benefits if Harvard was to cease to exist. Yale should probably suffer the same fate.
Older workers are being squeezed out because companies are eager to hire all of the hard-working, gung ho Millennials who want to join the corporate rate race, I suppose.
I’d wager that two of the factors might be that some got “too comfy” and didn’t produce what was expected, and some had solid ethics and morals that were at odds with management - worked hard and did great but were forced for political reason....then there were those who fit the parameters of the meme of the article.
Unless you are in a “protected class.” gay/muzzy/trans/female/non-White/gluten allergy/.
Any one of them can lie and claim that it was fired because of being one of them, etc. Normal people can’t lie and so are fired.
White Privilege, indeed!
Ageism is definitely a real thing, especially in Silicon Valley.
I was let go but was able to retire. Company wants ‘fresh’,cheap talent and cheap H1B labor.
They don’t understand that you get what you pay for.
Me too.
If you are a white male, work in the private sector, you had better be prepared to retire at age 55 or be able to maintain your lifestyle and obligations at 1/2 of your peak salary. Just the way it is. Or as your grandfather may have advised: Securely save 1/4 of you ear.
I was with a company for 24 years. They went public and cut the old timers loose a few years later.
Now been with a new company for 8 years and at age 60 starting to get nervous.
Turns out it was the beancounters who saw a chance to save $$$ by getting rid of expertise. I was picked up by a company that saw my skills value and potential. I was extremely grateful (12 years ago) and my gratitude has been turned into productive activity for them. The ex-employer has sunk into a festering cesspool and I wouldn't choose to work there now if they doubled my salary. Amazing how these MBA's can filter everything by the $$$ and miss the mark on how what they do affect the total health of the company they supposedly are representing. Most of them (like the Brown Shirts) were the next on the chopping block, so Karma proves again that it's an itch...
More likely after years of working they are higher paid and the company wants to lower costs. Also medical costs are higher in older workers.
Yep. I’m getting there and I’m all about trying to find a way to retire. Medical costs are the tough thing to cover though.
That is what happened with my husband’s last job. He will be pushing himself out of the current one
Eager Millennials,,,?
Lazy,
Self Absorbed,
No Talent Primadonnas!
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