Statistically, people who get laid off in their 50s take twice as long as those in their 30s to find a new comparable job. Some never do. In the high tech, the odds for older people are even more grim than that. Q should give all 50+ people they layoff at least 3 weeks, and preferably 4 weeks of severance for every year served.
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Still under gag but I have to say I thought the overall package was fair. Not great but better than what most companies would offer.
Did you get 3 or 4 weeks per year served or are you still under gag order about the package?
I am 50+ and got my GTFO notice back in jan with and exit in feb and found a job within 8 weeks. Had to take lower pay and benefits but that is just how it works out with wanting to stay in San Diego. Good luck to all. Just be realistic in expectations and be willing to settle for maybe something less than what you had or be flexible in your location
Anonymous132023, Again, most people in this that were at Q for a long time and still need find W2 work when they are 50+ blew their financial future. They have no one to blame but themselves. Retiring in La Jolla is not a "need" it's a "want"...
Yes, you can certainly retire at 50 from Q but not in La Jolla, unless you had 2 Q incomes.
Anonymous131938, This generation X did pretty well with those stock option grants 15 years ago, and also with good money management skills, can retire soon, definitely before turning 50.... Just saying
A lot of the Q Gen X and Y punks may not even make it to 50.
@Formerly Productive Engineer - Remember, you too, will one day also be a candidate for Soylent Green...= )
If you are 50+, you should have a ton of $ in the bank!
Two words- "Soylent Green" That should take care of the 50+ crowd.
Anonymous131824.. Typical financially irresponsible american. Spend most of your paycheck when times are good. And the moment the shit hits the fan, and you have an unexpected job loss, no emergency funds to cover your lifestyle. It figures.
Anonymous131824, This is bullshit. If you're 50ish and have been working at the Q for a long time, even if you aren't a significantly titled person (not a director or above), you have had enjoyed all the benefits of stock options/espp and RSUs... Much better off than anywhere other company in san diego, and better off than many companies in the bay area (except a few). 15 years+ at the Q, and you would have made out really really well, a sufficient f-up money pot, that you could have saved and invested wisely so that when you are 50+ now, it could be working for you. But let me guess, you didn't do any of that. You spent most of it, didn't you? Most 30ish person that joined the Q at a late stage didn't really get an RSU/stock option grant that you could consider "fck you money"..
131817: Nah, let them pontificate. Must be nice to be 30-something, no kids, no health issues, and know everything. Wait until the first time they get laid off in a down economy for more than a year and wind up burning through most of their savings paying for frivolous things like the mortgage on their "starter mansion," their car, food, COBRA, utilities....
Entitled little bitches! Please grow up.
If you worked in the hi tech until 50+, you will most likely be financially independent from where you came from, but not in US. The system is not setup like that.
Yeah the execs will be posh packages. Big surprise. Welcome to reality.
Again work a day knuckle busters getting nothing and zero notice is reality too.
So think on that before thinking somehow you "deserve" 5 weeks a year or something.
It's clear some of you have never been tossed out in the cold with nothing.
Companies are looking to hire recent college graduates or young engineers. 50+ will have a hard time looking for employment.
Harsh for who? The exec suite? I hope so.
Dear gawd. Count yourself lucky to get one at all!
Some of you folks have no reality check on how harsh it can be.
One more reason why you need to learn how to invest. You can't count in a paycheck indefinitely
If you have maintained your health and if you have a marketable skill, you will find a good or better job than you had at the Q even if you are 50+.
If you are 50+ and aren't close to financial independence, you did a pretty bad job planning
@131775: Yes, you can call it karma. Whatever you path you choose if your destiny. You could have done something different, but the final decision is your faith.
131765: Karma is waiting for you, in its sweet time.
That would be called compassionate empathy. Does Q really care that much about their most valuable asset?
Time makes everything fair. If you cannot find a comparable job, you will have to settle for less or nothing at all.
"comparable"... come one, older people earn more.
just be willing to accept something not comparable...
no age discrimination.