Well that just sucks.
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Thread: Well that just sucks.

  1. #1
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    Default Well that just sucks.

    After 7+ years at my employer, helping to build the business from a fledgling transaction processor to the premier transaction engine on the Internet, I got pink slipped. New top tier management has a new plan and my position and 325 others were eliminated. Some severance and some post job health benefits offered but not much else.

    Up side - no debt, solar for power and driving costs and a pretty good nest egg for retirement. Down side it breaks 4 year plan to hit retirement, that nest egg just needed the last 4 years. The other down problem is we contracted for a kitchen remodel that is about 50% completed and will start installation next week and that takes a hit on the regular savings.

    Currently rolling off all extraneous costs & liabilities like cell phone plans, cable TV plans, Starbucks card, night out for dinner, etc. Hunker down and start looking around is the next steps. Tough finding equivalent local employment at my age. I suspect a 50-60% pay cut. Seriously considering trying something else after taking a week or two to contemplate next steps.

    Hopefully it will be like the old saying "If life gives you lemons then make lemonade."
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  2. #2
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    Default

    Yeah, that truly sucks. Heck, I'd be trying to back out of the remodel as well, see if the contractor has any sympathy at all. Though he's probably not a heck of a lot better off himself.

    If you need help learning how to make that lemonade, I'll do what I can for ya.

    You're probably going to find out, like I have, that you're too "over qualified" for most jobs, or the other extreme. I get that one from being CEO of a couple startups unless I tell outright lies on my resume. No one wants to hire someone who used to be a top dog for two reasons - one is, I'll take that guy's job in a week and end up running the joint soon after, the other is I might move on if I don't - and I have to admit, both are true. But I also get this:

    Job offer as a machinist who needs to know how to run a milachron xytzzy-2000 and be productive from the first day. Even though I could design the thing and/or be the most productive guy there in about a week - no go, since I don't know already. This is one tough game to win, employers have their pick, and the young and malleable (with few expectations) are the current choice - easier to manipulate for "management". We older, wiser types are not what they want - we are harder to push around, and they know it.

    So, I have two choices myself. Trade the markets with the retirement fund, which isn't all that much fun, and makes one a cynic, or do another startup, for which I kind of lack the energy just now. I'd rather not bet my life savings on one at any rate, just now, and I'd have to in order to hire the required team to make a real go of one. Some would work "for love" if they could, but heck, they have wives and kids now, you know how that is.

    So I'm doing really low level product development/building/sales of my own designs to have something to do. Not much money in that one, since I'm working in a tiny market, just one I happen to want to be in anyway since it fits my amateur science/fusion hobby.
    It only makes "go out to a nice dinner once a month" kind of money, but at least I meet cool people and it's fun.
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  3. #3
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    Indeed, it does suck.

    I had quite a few unrelated careers over the years. What I found was going back to school was rejuvenating. Got my engineering degrees near 40 and my law degree At 55. Each time being thrown in with younger smart people worked like a fountain of youth, looking to the future and building on past experience. You are positive and that is key!

    I always found the next step was more fun. Never had a problem with career change because I was free to pick to a high demand area. Your age and experience will work for you as long as you target places where it is needed...typically startups, or new iniatives where the in-house expertise isn't there.


    Good Luck!
    Last edited by jfkirk; 10-30-2012 at 10:29 PM.
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  6. #4
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    Sorry to hear that solar Dave. Hoping the lemonade comes quickly.
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  7. #5
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    Wow, sorry to hear that solar_dave. It's something I worry about as well, given my age. I hope you find something soon.
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    Is it Paypal?
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  9. #7
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    Default

    Quote Originally Posted by Adarondax View Post
    Is it Paypal?
    Sorry my severance package won't let me say who!

    Hard t o back out with a draw contract, already 50% paid out, and would be the equivalent to a complete loss. 25% to cabinet maker, 25% to granite supplier. The GC gets his at completion. I just can't back out.
    Last edited by solar_dave; 10-30-2012 at 09:44 PM.
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  10. #8
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    Dave, sorry to hear of that change of plans in your work life. I think DCFusor did sum up the employment market for those with experience pretty well. Unfortunately that is how companies think these days. So it will make finding the next one challenging but you can do it. Hard to say where the journey of life leads you but you may just find more reward in the end, even if this was not in the cards at the moment. Also about 40% of those that retire do it not according to their plans. Thanks for sharing that as we are all part of the VOLT family here and I am sure you will find that we all care.
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  11. #9
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    hey solar_dave sorry to hear about your good fortune. Yes, that is right every time I have been faced with "change" thing have always turned out for the better. Sounds like you are closer to retirement than many others, so you may be hard pressed to "advance" your current career. If you have done thing right up to now, I would look for something that you would find interesting, regardless of what the income level might be. Enjoying what you do is way more important than making fists full of money.

    All that being said, trying to find affordable health care is very stress producing until you reach Medicare age. Best wishes, in anything you find interesting in the future.

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  13. #10
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    Google knows all, though this could be a coincidence of course

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