Record Number of Early Retirements Being Offered

The lingering impact of the pandemic has many major companies looking for ways to balance their books, and to get in a better position some are offering retirement packages to thin the herd.

Those pink sheets for retirement are going out to workers as young as 40, according to Fox Business expert Gerri Willis. She’s says they are doubling down on younger workers and trimming off the older ones.

That’s fortunate for those on the younger side of the scale, suggest Gabe Abshire, a workplace culture expert and CEO of Utility Concierge.“For some folks that may be good,” he tells KTRH News. “They may have reached a point where they are ready for a new challenge, or new career, and some of the incentives these companies are offering can be pretty lucrative.”

The downside is those older workers being left at the wayside. According to MarketWatch, their odds of finding another job are slim, and if they are not in a position to begin drawing on Social Security and Medicare, devastating.

The companies can also be cutting off their nose for short-term gain, states Abshire, who says age diversity will suffer. “The younger generation gets to learn from the older generation and the older generation – being around young folks – it keeps them young, a hip, and keeps them going with all the new trends and new ways of learning today.”

In June, reports Marketwatch, the unemployment rate for workers over 55 was 13.6%.

photo: getty images

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