I'm staring at a 401k that took a hit, no retirement in sight, and a skillset that feels outdated. The company I gave 18 years to is shedding people my age like dead weight. I'm terrified. I can't afford to start over at entry-level, but I can't compete with graduates who'll work for half my salary.
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@13x …. Crickets…………..
Tech workers from Gen X were in their prime when "Office Space" came out. That movie was more like a documentary than a comedy - lol. I knew those layoffs would become rampant when Gen X got old. So, in preparation, I decided to earn a PhD to study AI. I now know how to generate thousands of lines of code using written "specifications". I can do it from the AI chat prompt or from an agent as a markdown file (*.MD). So, that was my strategy.
But my big "pivot" is to move into the clinic. When I was young, I almost went to medical school but chose to stay in biomedical engineering. Now, I found a "hybrid" role with a new niche area that has evolved in the past 12 years. It's perfect for me. So, that is my hard target. Personally, when I see posts about layoffs like this, I get flashbacks of Gordon Gecko on "Wall Street" when he said "Greed is good" and laid off thousands to make wealth. To he-l with that, I am just going back into the clinical domain. But it's changed. There are roles now in hospitals that didn't exist back in the 90s. If you watch an old episode of "ER" from 1994, it looks grossly outdated with the way they do things now, which means there are new job titles. I found one that's perfect. I won't say what it is though. It's my "wild card". I spent all week studying for an anatomy final exam to prepare for that switch. Most students in the course are allied health, nurses, pre-med, etc. It's fun to be back with the young clinical people rather than old corrupted executives like Gordon Gekko.
@xx this is facts. All the id--t sr. directors and above especially VP and above are Gen X’s and are leading Gen Z and millennials when neither of them can barely reply to emails on time it’s a complete sh-tshow internally with these 50 something years olds and their arrogance
Panic all day because if there’s one generation that is full of losers it’s GEN X — all you mo--n 50-something year olds who grew up on dr-gs and over consumerism have turned perfectly good companies like this into a dumpster fire because you’re all a bunch of useless people taking up space
Why did your 401k take a hit? The market is near ATHs.
@b4 I think you mean late stage welfare-state capitalism! 38% of GDP comes from government spending! Oh, and it is growing. 38 cents of every dollars is from your taxes. 38% of the economy is an anchor of fraud, cronyism or Ponzi. 38 cents of every dollar is negative growth, negative prosperity, theft from future generations, inflation, scare resources and more. It is only going to get worse before it gets better.
Your only job security, its your ability to get your next job. Always be looking for your next job.
@OP in addition to the great advice already posted, keep in mind that your age likely means you have a great work ethic that is lost on those young graduates. I’m not talking about working 6 days a week, 11hrs per day. I’m talking about being resilient, calm in crisis, and resourceful.
On the other hand, maybe it’s time to let go of MDT? I was RIFd 6 years ago and clawed my way back. I hate it here and wonder if I shouldn’t have just found something else. Give it some good thought.
Bro the market is up 17% in the last year. What do you mean your 401k took a hit?
Also, button up your resume and start interviewing (you always should be passively looking for your next opportunity IMO). If you want to work for the next 10ish years, you should not put all your eggs in the MDT bucket.
This is not just at Medtronic. Other companies are doing the same thing. Late Stage Capitalism is ruthless.
Make sure you have an updated resume, an minimum of 6 month emergency fund and a list of present/former colleagues that you can reach out to in the event that you are RIF'd. Worrying about you current situation will not solve anything.