Exactly, but this has been going on for a long time. My husband was laid off from a major corporation when he was in his late fifties. Many other older workers were laid off, too, but they laid off enough younger employees to give them cover.
We managed over the next several years, but I get ticked off when the talking heads start blabbing about raising the retirement age. It’s difficult to find another job if you are in your fifties and sixties.
Hey, I could save Social Security tomorrow by making the retirement age 103. How does that sound to everyone?
Yup...same happened to me.
It has been going on for a long time. My dad worked for a major oil company from 1958 to 1990. Put up with a lot of crap, but stayed loyal to the company. They “retired” him at 55.