Cut your business costs...fire older workers! (insurance, 2009, credit card)

[70Ford]

Hrmm...I'll be an older worker (as they classify it) in less than 4 years....
When did 40 become "old?"

/sigh.


ABC News: Unemployment: Companies Cut Pricey Older Workers

Finding ways to shed older employees -- who are at the top of the salary food chain and cull expensive medical and pension perks -- is nothing new, according to experts.

"It's not surprising if it's happening now," said Joel Naroff, president of Naroff Economic Advisors in Holland, Pa. "What you might see in any time when there are large-scale layoffs, is the fudge-ability increases."

"Let's face it," he told ABCNews.com. "To the extent a company may feel that it is to their advantage -- and I am not saying it's the right or wrong thing to do -- when they are making small-scale cuts, it's more difficult than when they are making large cuts.

**************************
This worked so well for Circuit City, by the way......

[Woof Woof Woof!]

It's easier to take advantage of the under 30 workers and get more hours out of them.

[HappySpring]

And pay them less too!

[SandyCo]

Ours is a youth oriented culture, unfortunately. Just look at radio and TV advertising. Unless it's for medical products, most advertising is aimed at people below 35 or 40 years old. I've never understood this, because most of those folks are just getting their careers going, they're having families, and they don't have a lot of disposable income. It's usually the older people that have more money to fling around, or at least they do until their downsized!

[runningncircles1]

Ours is a youth oriented culture, unfortunately. Just look at radio and TV advertising. Unless it's for medical products, most advertising is aimed at people below 35 or 40 years old. I've never understood this, because most of those folks are just getting their careers going, they're having families, and they don't have a lot of disposable income. It's usually the older people that have more money to fling around, or at least they do until their downsized!

It's that peer pressure/bandwagon thing. I say this as a 21 yo. Most people when they are in their teens and twenties are self conscious (for all generations, really). So, companies take advantage of this element. "Buy this or the girl won't talk to you... you need an iPhone to be cool... blah blah." It gets paid for with credit cards, at compound interest, til they're 40. By the time people are 40, they no longer give a flying f*ck because they're married and let themselves go. However, by then, you probably also have kids and now have more REQUIRED costs, so they justed double-f*cked you (ever wonder why home-ownership and having a bunch of bratty kids is THE "American Dream?"). Still have that mortgage, credit cards, etc. to pay ON TOP OF new braces, medical insurance, car insurance, school events, HOA fees, then use peer pressure convincing you you're an awful parent if you don't help your child consume consume consume and learn that same culture or if you let them go to "that" school instead of taking some time out at home to teach them material. So, you pay more for a house in the "good" school district with higher SAT scores (a test you have to pay for), so your children can go to college (paying for it), and continue this cycle. Most people will wrack up more debt fulfilling these obligations.

If you think the ponzi scheme ended at fractional reserve banking, you're mistaken.

[Houston3]

I think it was several years ago when K-Mart fired employes over 40 and replaced them with cheaper young people.... Does anyone here know how that lawsuit came out. I do remember they were sued for it.

[rubber_factory]

Originally Posted by SandyCo

Ours is a youth oriented culture, unfortunately. Just look at radio and TV advertising. Unless it's for medical products, most advertising is aimed at people below 35 or 40 years old. I've never understood this, because most of those folks are just getting their careers going, they're having families, and they don't have a lot of disposable income. It's usually the older people that have more money to fling around, or at least they do until their downsized!

I think one factor is the population size of different ages. 15-29 year olds and 45-54 year olds make up the biggest shares of the population right now, Baby Boomers and Gen Y. As of 2009, the 15-19 year olds are the peak 4 years of generation Y, and currently the largest 4-year population block in the US. That is a big, moving target for advertisers for years to come.


Population Pyramids for United States

[oleo]

On the bright side, when you do to apply for a new job, you'll have more work experience than others, ya old fogy!

[cobolt]

Originally Posted by oleo

On the bright side, when you do to apply for a new job, you'll have more work experience than others, ya old fogy!

Problem with that is it's cheaper for a company to hire a snot-nosed college grad than it is to hire someone with experience. You can always teach the chimps. There are, however, still some good employers out there that will pay for experience.

[oleo]

Originally Posted by cobolt

Problem with that is it's cheaper for a company to hire a snot-nosed college grad than it is to hire someone with experience. You can always teach the chimps. There are, however, still some good employers out there that will pay for experience.

Those are crap jobs to begin with then.

Depending on the job, management would never hire someone without experience, because it would take forever to train them and bring them up to speed. They want someone who can perform NOW.

Snot-nosed? Did you get schooled by a recent graduate? Kids ARE getting smarter these days, so you better keep up or get burnt.