Perhaps now all the high ups will realize that being laidoff isn't so fun after all? They will learn to understand how it feels like to be in someone's elses shoes. Instead of judging someone's resume for having a gap on it due to layoffs, overwork, bad company culture etc. People don't choose to have gaps on their resume word to the wise, but it's situation like this that creates those gaps. Out of our control.
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One problem a lot of people who got laid off will face, is finding all the skills they have and learned at State Street .
Are not used by most other companies, hence 90% of the skills you learned over the years are
obsolete.
@over50, hang in there and don't lose confidence even when others try to put you down. I wouldn't put much faith in anyone at Unemployment. They likely couldn't get a job outside of State government with relatives already working there, Last year, I noticed some companies where you could see a bias against people with 20 years of experience. Then I got offered two jobs by companies that saw the value of experience. I am actually making more than at SSB. I noticed the companies with a possible age bias advertising the same positions they had a year ago.
As an older worker who was discarded after 20 years, is the attitude from hiring companies.
They do not want mature experienced people who are going to give 150%, put in a full days work.
They want under 30yr people who will work for peanuts but will leave them when a better job comes along.
When your over 50yr your grateful just to get a job and your not going to leave even if a better job comes along. Because you know the anti over 50yr attitude among companies.
I remember I had a free career coach at Unemployment and yikes she was the worst at her job.
I remember telling her I gone for jobs which pay 20% 30% and 40% less just to get a foot in the door.
The response from her was " You should never ever be willing to work for less than you are worth.
My response was " Well most companies do not want to hire people over 50yr, and I rathe have some income coming in then no income coming in and becoming homeless.
My manager was a complete jerk on the last day. But I got a great job less than a month after my last day with a significantly better salary. I am 50 + so it is possible. I also know others closer to 60 that got jobs at Santander quickly. It is probably dependent on your field and experience.
I'm the same age (50)...I got laid off & found another job immediately. I was an AVP, so my salary was not super high. I know there are lots of financial jobs in the Boston area...and tech jobs near 128.
My best advice is to keep networking and apply for anything & everything. I did not get my job via LinkedIn, bit I know people who have.
Santan....Bank is hiring. I know 10 people personally who left SST to work there this year alone.
Good luck to all!
I was laid off at the age of 52 for SSB in 2012. After being let go, I have work two contract jobs totaling 5 months. Been through so many interviews . I had an interview for a state job and the HR rep informed me I would be bored in the job. Huh? You never say that to a individual in an interview. These so called connections on Linkedin never reply when you have applied to a company and you are trying to get assistance on the application. And when you do see these so called network connections the response is: I don't look at my Linkedin account. Nor do I trust employment agencies. If they inform you about a job and you give a resume 9 out of 10 times no callback for an interview.Now it is withdrawing from 401 k accounts (so far have not touched SSB 401 K nor the pension money when SSB had a pension account before the IBT merger) to survive month by month. The good news is house is paid off, no kids, no wife, so no expenses there and I was allowed to join SSB health care after COBRA so no shopping for health care on the MA health care site. I doubt I will ever see full time work again.
Most people are looking and can’t find a job. When they get laid off, if age 50 or older, they will never find same level and pay. They are going to know the pain many of the worker bees suffered when they laid off so many earlier this year.
These senior people at State Street have a lot more to lose as they have bigger debts (huge million dollar plus mortgages, multiple homes, etc). At their levels, replacement jobs at same salary are few and far between and may require relocating to find a job at that same level. The economy is NOT good, despite what the news tells you. It took me almost two years to land a job at same pay and title after I was laid off. I did some consulting while looking so I didn’t lose my home. It’s brutal out there, I don’t wish a lay off on my worst enemy.
Can’t wait to see that Chief Legal Officer get the boot, they are pushing him out, slowly. He must hate coming to work everyday having to report to someone that got the promotion he was hoping for and having his direct reports lessened... writing is all over the wall on that one.... and it’s so much fun to watch. Ahhhhh yes, the mighty are in free fall at good old state street....