Posted by: A. C. Cockerill | June 12, 2017

Rise of the Layoff Generation – Post #2

Rise of the Layoff Generation – Post #2

What forces combined to push down the Layoff Generation?

My two cents, but please share yours:

The Layoff Generation, ages forty-five to sixty-five in 2017, experienced the negative forces of layoffs, economic downturns, inflation (food, clothing, etc.), and skyrocketing healthcare premiums and deductibles. Many in this generation have been left unable to bridge to retirement. They must now seek income streams to correct their financial gaps.

A key factor was hire-layoff churn. Newly minted MBAs, in the 1990s, handled their cost-cutting by hiring the young, laying off the older employees (more experienced, therefore higher paid), and then “rinsing and repeating.” This approach replaced the full-employment policies from a more paternalistic era and proved to be far from an improvement. Product quality in many areas suffered, as did employer-employee loyalty. Red tape and “reinventing the wheel” increased. The time has come to reconsider those full-employment policies that worked so well in prior decades.

Next picoblog for this series:  What will enable the Layoff Generation?”


Responses

  1. I agree, Ashley.


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