Over 40, Fearing Job Loss? Here's How to Soften the Blow

Building your financial safety net will require self-assessment and proactive planning

- RACHNA MONGA KOPPIKAR

In 1969, an affluent suburb of Washington, D.C. fought against a public housing project for the elderly and less affluent residents. Outraged by the discrimination, Dr. Robert Neil Butler, who did groundbreaking work in the field of aging, coined the term 'ageism' as a mark of protest.

Decades later, the term has returned, and this time across corporate boardrooms. As companies announce mass layoffs, estimates suggest mid- and senior-level executives are among the worst affected.

The World Economic Forum's Future of Jobs Report 2025 warns that technological change, geo-economic fragmentation, economic uncertainty, demographic shifts, and the green transition could create 170 million jobs, but also displace 92 million.

'45 is the new 60'

In India, there's no official data on layoffs for those above 40, but there's evidence galore. A client's husband in his late 40s was fired in January, with no feedback or warnings of being placed in a performance improvement plan (PIP).

Weeks later, he realized that his colleagues in other countries are facing the same fate. LinkedIn is full of 'open to work' badges from mid- and senior-level professionals globally.