Layoffs: Older Executives Find Job Losses Mean Retire Early

Summary

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Amid the layoffs that have become a routine part of corporate downsizing, mergers and outsourcing, there is a growing trend: older executives who can't find new jobs.

Few of these managers ever imagined this could happen to them at what was supposed to be the pinnacle of their careers. But after aggressive job hunts, many former executives discover that even though the economy is picking up, new managerial jobs tend to go to younger workers. Some have responded by starting their own businesses or trying consulting, but others have essentially been forced into early retirement, sometimes many years short of their financial goals.

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Extract

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Layoffs: Older Executives Find Job Losses Mean Retire Early

"There is a surplus of labor in this country, and if you are an older worker, it is very hard to find something," says Joseph Briley, an information technology executive who has been jobless for three years. "This all gets swept u...

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