Layoffs

Scary Charts – 12.04.25

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Through November, employers have announced 1,170,821 job cuts, an increase of 54% from the 761,358 announced in the first eleven months of last year. Year-to-date job cuts are at the highest level since 2020 when 2,227,725 cuts were announced through November. It is the sixth time since 1993 that job cuts through November have surpassed 1.1 million. Challenger Report: 71,321 Job Cuts on Restructurings, Closings, Economy https://www.challengergray.com/blog/challenger-report-71321-job-cuts-on-restructurings-closings-economy/

Yikes.

In my less than illustrious career I’ve suffered 100% reductions in income multiple times. Hopefully the newly unemployed have some form of a fallback plan.

Stay safe. It’s fugly out there.

Intel Layoffs Spotlight Plight of Aging Workers – OregonLive.com

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People over 40 were two-and-a-half times more likely to lose their jobs in this spring’s layoffs than Intel employees under 40.

Source: Intel layoffs skew older, spotlighting plight of aging workers | OregonLive.com

Intel is obviously not in the insurance business but I felt this was an excellent article on ageism and the fate that awaits virtually everyone in the corporate world.  As strange as it sounds you really have to plan on doing something else before you need to do something else.

In my part of the country the current state of the energy industry has and will continue to affect many families.  If you’ve held a highly specialized position in energy the chances of finding a comparable job somewhere soon is slim.  Time to do something else.

Plan on earning less than you thought you would be earning.  The probability of this occurrence is higher than you think.  Find some other line of work, either your own small business or a company who appreciates old people.

Better yet, don’t get old.