Worked at the bank for 14 years, so the the sub package is a nice supplement to unemployment. My biggest concern with the layoff is looking for a job when you are over 60. Do you want to go through the whole interview process? Do you want to be "the new guy" at age 60? This is the issue I have with the bank laying off the older, more expensive staff. Some are lucky enough to be able to afford to take an early retirement. Some aren't. Many need to find something meaningful to to do to fill up our days. A part time job in Home Depot ot Chic-fil-a doesn't cut it.
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What do you mean that he didn’t get to go out on his own terms? Choosing to Retire is the very definition of going out on your own terms.
I am in my 40s and this really scares me, the future is not bright, and it is not only BNY, other banks are doing it too. Don't think for a second that the younger generations are not seeing what's happening, next thing you know they will start getting rid of people in their 50's. I'm not loyal to any company, they are not loyal to you.
@1sav - agreed 100% as long as they got the full SUB - no guarantee of that these days!
@1ptf, I'd rather get an extra year of sub pay then a piece of cake and a watch.
I knew someone who submitted his retirement paperwork & a couple of weeks later was laid off. Didn’t get to go out on his terms & no good byes to co-workers - just walked right out.
I’m sorry this happened to you. Unfortunately there is no loyalty in this business anymore.
My advice is try to start your own business, be a consultant or take a real estate course and become a realtor. Do this while they are paying your sub and then ramp up your business during this time. Best of luck to you!
I’m in the same boat. I worked for the bank for over 30 years. There are some ignorant comments being made here. No one should judge the impact of how this impacts you. Make every effort to keep a positive attitude. Use the resources made available to you. Reach out to former colleagues and friends to help in your search for employment . Wishing you the best in your future endeavors.
You will need to work 3 jobs Home Depot, chiral and Lowe’s. Enjoy!!!