2020.05.05 Why millions of older workers will pay a big financial price—forever—from the coronavirus (Marketwatch). This article is subtitled "Even in good times, age discrimination is rampant" and includes telling and true observations: "More than 30 million Americans—about one-sixth of the U.S. workforce—have now been laid off in the last six shattering weeks. ...And while layoffs have hit both younger and older workers, it’s a good bet that when the economy begins to reopen and Americans go back to work, older workers—age 50 and over—will be last in line." The article provides data indicating that long job searches and greatly reduced pay await those laid off over age 50. Those high stakes and risks should make senior employees especially keen toward negotiating the best possible severance terms. More information at Exit Strategies.
2019.07 Your Professional Decline Is Coming (Much) Sooner Than You Think (The Atlantic). This title may be sobering, but the author provides thoughtful advice drawn from his self-described "quest to figure out how to turn my eventual professional decline from a matter of dread into an opportunity for progress."
2019.05.22 So You Were Replaced by a Younger Worker. See this National Law Review article titled "Older Employee Let Go in Reduction in Force Can Proceed to Trial on ADEA Claim" The article summarizes a recent Texas decision. The article begins: "An employer’s retention of a younger, less-qualified employee instead of the older, more experienced employee, who was terminated during the Company’s reduction in force, can give rise to liability under the Age Discrimination in Employment Act (“ADEA”), according to a recent decision ... [in] Harrison v. Chipolbrok America, Inc."
2019.04.18 "Rabbi Trusts: When to Ask. What to Get" (Poerio, Wagner Law Alert). Executives who are leaving employment often underlook, and underestimate, the security available from rabbi trusts.
2019.01.29 Five Key RIF Hurdles. For a sense of the basic requirements (and laws) that employers consider in connection with reductions in force (RIFs) and layoffs, see this article.
2018.12.28 If you’re over 50, chances are the decision to leave a job won’t be yours (ProPublica). The article begins "A new data analysis by ProPublica and the Urban Institute
shows more than half of older U.S. workers are pushed out of longtime jobs before they choose to retire, suffering financial damage that is often irreversible."
2018.04.14 16 Key Issues In Negotiating An Employment Severance Package (Forbes)
2018.05.23 "When Quitting is Your Best Option: How to Create Your Exit Strategy" (BioSpace). This short article provides a good starting point for decision-making.
"5 Strategies to Resign Without Burning A Bridge" (Forbes) - excellent advice ranges from when to exit to being smart on the way out.
"Resigning with Class: How to Diplomatically Resign From Your Job" from liveCareer includes advice about how to write a resignation letter, along with some sample letters.
The stakes are generally enormous - from financial and tax planning to strategies by which to exit on the best possible terms.
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