Why is the majority of those laid off over 50???
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I can confirm that Conduent stopped matching 401k this year, and is not going to re-instate anytime soon (probably ever).
Nice pot stirring.
EXPERIENCE IS NOW A LIABILITY!!!
Every company in the US lays off anyone age 50 or above in the FIRST rounds to save money on medical costs. Welcome to the nightmare of being labeled a Baby Boomer during the reign of the Millennials. Experience does not matter anymore....cost efficiency and the bottom line rule.
You can read article after article that the age of 50, even 40, in some business cultures is too old to work. Not only are you a medical liability, you are no longer mentally capable of doing your job due to your slow, dulling mind, not to mention your education is insufficient and outdated for your position.
So, during the years when one needs their health insurance the most in their life, and when one deserves the stability of a job based upon the strength of knowledge and loyalty, the corporate world dislodges this age group , throws them out into a world of employment to fend for themselves resulting in eating up their penalized 401Ks immaturely while searching for jobs in their fields with the same pay scale that aren’t available to them any longer. And in the case with Conduent I’ve heard, 401Ks that aren’t even matched by Conduent. The end game results in being taking a position in a new field at a much, much lower rate and restarting their education system or finding a position in their field with a salary offer lower than when they started in the field.
You can only prove it if no one signs anything and all employees of the lay-off round gather to provide Demographics of the group.
How are you able to verify that??
Or even older???