out and replaced with new technologies, many over the age of 58 were 'offered' early retirement. Some were also pressured to take a cut in hours.
This was a major player in Switzerland.
Whereas in the past employees were treated as people, those days are now long gone and you're really just a number to them and when you become too expensive, the company looks at ways of reducing costs, with anyone over the age of 58 the first to be asked if they 'want' to step down.
There are quite a few older employees in the company but they do have a particular skill set that the company needs.
At the same time there is the perennial discussion of raising the AHV pensionable age...
Karma is a B, though. In OH's field companies often find they later have to come hat-in-hand asking the 'early retired' employee to consider returning as a contractor. For which smart retirees ask significantly more than the few extra pennies in the pension pot.
But hey, headcount reduction reported, stakeholders happy.
These days one cannot count on traditional work until pensionable age in the corporate world, any time after the mid 50s is icing on the cake. Plan for something independent during your later years, the gig economy isn't just for millennials anymore. Or plan to move to another country where your skills and experience are needed - ironically, often as an inter-company transfer.
From what I understand, increased employer pension contributions aren't really a huge burden for a big company. I think the lack of oldies is more to do with perception and, maybe, because quite a few 'oldies' end up in 'middle management' where they're no longer a 'personal contributor' and so are seen as soft targets. My advice is to stay away from 'team management' and build on business process knowledge and/or technical expertise.
Anyway, in my last company, we all lost our jobs due to restructuring & surprisingly, my oldest colleague (58) was the lone person standing. This is indeed a rarity. Currently, I am working with a boss who’s 59, and it’s openly known he will be getting his silver parachute soon.
Just reading threads like this make me frightened for the not very far off future and trying to survive on a state pension.
Same here. Point of being in CH is to make as much money as possible quickly, and retire early. I'm almost 47, been fired a few times and getting fed up with the whole corporate attitude towards people. I have no children nor other expensive hobbies or habits, so will quit after the 6 month gig I'm working at now. I have only one life, to waste it away in an office... I want to see the Louvre, Amalfi coast, the London technology museum etc etc, and preferably while I still have my health.
Two years later they re-reorganised the job and reinstated my old position. By then the VP had changed and the new one's objective was more related to getting the job done, rather than reduce headcount.
HR had a policy on not reemploying retirees so I wasn't offered my old job back. Not that I wasn't enjoying not working.
Generally I agree and understand your perspective, for me its enough to have intense weekends (mostly in mountains, complemented with stuff you describe), and 3-4 vacations per year far, far away, as exotic as possible. Retiring in 60-61, taking a financial hit due to earlier retirement but not giving a nano-fraction of a f**k about that. That's the ideal at least, who knows what will be the reality.
I'm also not too good with stress, so instead of flying I rather drive (combined with 50 euro a night hotels). A typical driving day is 400 to 500 km, so things like the Amalfi coast really are week trips...
I wonder how sustainable this 'working till 68' is. At the moment the economy is running fine and lots of people are needed everywhere. But increased automation will lead to unemployment, especially among the lower educated and people not able/willing to keep up. Once this group becomes significantly large enough the government will need to put something in place to give these voters an income. I know basic income is not very popular, but what would be the alternative ?
Alas after almost 6 years of divorce procedure is going to leave me financially destroyed to where I was, even if I manage to get to the 65 with the current company.
Hence I have to start this year preparing to work part-time and build this up so hopefully I can carry on past retirement.
I agree with you - I'm exhausted by the weekend and rarely have the inclination to travel anywhere. Very different in my younger years. Never envisaged this when I was younger - always thought I would have lots of energy! Really looking forward to retiring. I could easily make it to 65 in my profession - only 2 years to go - but would rather quit at 64 if I can work it out.
So the solution to this can be to go on to the market as an independent contractor instead.
For anyone interested in these topics I can recommend this group:
https://www.aging2.com/zurich/
Or maybe this foundation: