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Author Topic: 35% Workforce Reduction at Major Healthcare Provider  (Read 40187 times)

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Änσnymσus

  • Guest
35% Workforce Reduction at Major Healthcare Provider
« on: January 11, 2024, 10:51:33 AM »
My company is in Round 3 of a RIF (reduction in force) and it's 35% across the org.  I received a weird meeting invite from a VP entitled "Organization Update" and the invitee list is hidden so I don't know if I'm the only one invited or not.  Can't forward it either.  

I'm feeling nervous because I'm over 50 and I've heard it's very difficult for older workers to get jobs.

Änσnymσus

  • Guest
Re: 35% Workforce Reduction at Major Healthcare Provider
« Reply #1 on: January 11, 2024, 10:55:29 AM »
I may be in a similar situation soon.  Millions will be.  All over the country.  Big companies know the economy is going to shrink and they will cut jobs to save their bottom-line.  

God has a plan.


Offline Yeti

  • Supporter
Re: 35% Workforce Reduction at Major Healthcare Provider
« Reply #2 on: January 11, 2024, 12:03:02 PM »
Does this mean a recession is beginning?

Offline Ladislaus

  • Supporter
Re: 35% Workforce Reduction at Major Healthcare Provider
« Reply #3 on: January 11, 2024, 12:20:07 PM »
Does this mean a recession is beginning?

I think we're past recession and probably ramping up into a full-blown depression.

Offline Ladislaus

  • Supporter
Re: 35% Workforce Reduction at Major Healthcare Provider
« Reply #4 on: January 11, 2024, 12:23:08 PM »
I've been in your boat, OP, and, yes, it's harder to find a job when you're in your 50s.  Employers tend to think that such employees would have less enthusiasm this late in their careers and might just be looking to coast into retirement.  I'll pray for you, because it's not a great spot to be in.  And it's harder now precisely because of all the companies laying off due to the general economy, where you're competing with a lot of people for the jobs that are let, kindof like in a game of musical chairs.

Happened to me when I worked as an Architect at a big bank during the 2008 financial crisis, where my bank totally collapsed, we got transitioned to a bank that bought us, and then we were laid off due to our being redundant staff with the other bank (they just wanted the accounts and branches, and not the IT systems, since they already had those).  Thankfully it took them nearly 2 years to sort it all out, and then after that they gave us a one-year severance ... which gave me enough time to find a job.  And I was only about 40 when that happened, so I didn't have the age issue to content with.