http://www.inc.com/linkedin/sramana-mitra/tech-layoffs-2016-projected-deep-what-happens-260000-highly-mitra.html
10 replies (most recent on top)
@JND. No point in going back to school in your 40s or 50s. Companies will still go for the kids in their 20s. They don't want to deal with a 50 yo who doesn't fit in with the kids, or take orders well from a boss in his 30s, doesn't understand social media, etc.
BS degrees from 25 years ago is not going to be competitive. If your in your 40-50's you will need to go back to school to get a more recent education. Updating your skills with "internet learning materials" is not going to cut it for your resume.
Tech companies do not appreciate experience. If your going back to school your better off starting in another industry, like heath care, where there is less agism.
@-tbl: you're most likely trolling; if not then you're and idiot....Can you say the same to your doctor, lawyer, congressman, electrician, taxi driver, etc., etc....retire at 40/50 because some fuc$%d up guy like you things the job can be done better by a 20-some years old? Idiot, a#s....
Could be Obama care costs of old folks
40/50 years old? Retire....Sheesh. You guys are actually expecting to keeping working as efficiently as some 20-30 year old when you are 50+ if you aren't in management?
It's called plan B. Hopefully you did something with it when times were good, and you had a lot of cash and great earnings during your prime, and didn't waste your hard earned money on useless crap that doesn't generate any passive income, like most dumb americans do.
This article must be wrong - they say there is a massive skills shortage.
More Trump Voters, Excellent!!!
All companies over saturated with H1Bs.
It began with manufacturing jobs. Now we are talking R&D jobs. So, manufacturing and R&D have left the building. Who is pulling the strings here? What is the grand scheme of things? Something is in play here and it doesn't look good.
Wall Street Analysts' estimated IT job cuts for 2016:
VMware
Estimated percentage of jobs to be cut this year: 10% to 15%
Estimated number of cut employees: 1,700 to 2,500
Symantec
Estimated percentage of jobs to be cut this year: 15%
Estimated number of cut employees: 2,800
Yahoo
Estimated percentage of jobs to be cut this year: 30%
Estimated number of cut employees: 3,500
EMC
Estimated percentage of jobs to be cut this year: 15% to 20%
Estimated number of cut employees: 10,000 to 14,000
Cisco Systems
Estimated percentage of jobs to be cut this year: 20%
Estimated number of cut employees: 14,000
HP Inc.
Estimated percentage of jobs to be cut this year: 30%
Estimated number of cut employees: 14,000
Microsoft
Estimated percentage of jobs to be cut this year: 15%
Estimated number of cut employees: 18,000
Oracle
Estimated percentage of jobs to be cut this year: 20%
Estimated number of cut employees: 26,000
Hewlett Packard Enterprise (HPE)
Estimated percentage of jobs to be cut this year: 30%
Estimated number of cut employees: 72,000
IBM
Estimated Percentage Of Jobs To Be Cut This Year: 25%
Estimated Number of Cut Employees: 95,000
So how do you get companies to engage with these folks?? Maybe we need a more carrot-like approach to balance the appeal between someone who is 25 versus someone who is 45. Off the top of my head, allow companies to deduct 2x the salary expense for someone in their 40s and 3x the salary expense of folks in their 50s.