Can't sleep...feeling kind of depressed

[WayneGM]

I got some bad news the other day. After over 21 years with the same company, and over 9 years in the same position, it looks like I'll be job hunting at age 53. I saw the signs this was coming so it wasn't a total surprise. Still, I'm in a bit of a daze.

While I was off last year having my OHS, the company did a restructuring and when I returned to work, my job had changed significantly. I discussed it with my new boss at the time and we both knew it wasn't really a good fit, but I could do the job and was encouraged to explore other job postings for a better fit as they became available. However, likely due to the restructuring, new postings that I was qualified for were far and few between. I applied for several but no luck. In fact most didn't end up being filled as they were cancelled shortly after being posted.

Anyway, I am now informed we're having another reorg and my job is being significantly changed again, this time making it a "poor fit" so HR has been called in and they've engaged what we call "Retention Services". Essentially this means that for the next 4 months they will help me actively explore other opportunties anywhere in the company, but no guarantee of location or keeping my same job level. Given there hasn't been that many opportunities over the past year, I'm not sure how the next 4 months will be any different. After that I'm on "Income Protection" for a period of time which means they will pay me for a period while I look for a job elsewhere. It's actually not a bad deal, but I'm concerned because I don't have a lot of formal education and rose through the company by working hard and gaining on-the-job knowledge and experience. I'm just not sure how well I'll compete in the external world against younger, more formally educated, applicants.

My wife says "it'll all work out", but I don't deal well with uncertainty. I'm feeling quite anxious about it. Not as anxious as when I was told I needed OHS, but almost. You hear about this happening all the time, but you think it'll never happen to you. It really sucks that I'm so close to 55 and the first option to collect a reduced pension out of our pension plan. At least with that as a supplement, it would be easier to cope if I have to take a lower paying job.

Sorry if I'm venting but I can't sleep and just needed to sound off. Actually I am feeling a bit better just writing this to get it off my chest. Thanks for listening.

 

[geebee]

Wayne,

I am sorry you find yourself in this situation but it sounds like your company is helping a lot with the issue.

I have just started job hunting at 55 and it is going very well. I was worried initially but I am getting interviews and have had one job offer but I do not think I will take it as I do not like the location. However, the offer keeps me encouraged. In many instances, experience can be as "sellable" as formal education. It is my feeling that if a company does not consider my many years of experience as something worthwhile then I do not want to work for such a company.

Here in the US, there is no chance of any kind of pension until we are well into our 60's so, at 55, I will be giving a company at least another 10-15 years. I do not know if the earlier pension availability will be seen as a negative for you but just make sure potential employers know you are committed to giving them "so many years" (whatever you feel is reasonable).

I wish you all the best.

 

[Phyllis]

Hope you were able to get some sleep last night, Wayne. Don't ever sell your "experience" short- I'm sure many an employer will see it as a plus. I hope that they can come up with a "good fit" at your present company and if not, that the perfect fit elsewhere comes about. It may turn out to be the best thing that ever happened to you and the start of a whole new vocation and a much happier work situation!

 

[Ross]

I'm just not sure how well I'll compete in the external world against younger, more formally educated, applicants.

Man come to the U.S. Even so called educated applicants here don't want to work an honest hour. It's unbeleivable that some of them even got through school!

At least your not being dropped with no notice whatsoever and no wage protection or income protection of any kind. Your wife is right, it will work out. Maybe not where your at now, but if not, somewhere else, in a much more suitable position.

 

[Bridgette]

Hi Wayne

Sorry to hear about your job situation, it must be quite stressful for you just now with all the uncertainty.
Have you thought about retraining to do something different? After years and years of working in office admin, I decided four years ago to go to university at age 40 and train as a teacher. I have ALMOST finished my degree now and next year I will hopefully get a job pretty easily as there is a shortage of qualified early childhood teachers in NZ.
Of course, everyones situation is different, and I don't know if your wife works and could support the household while you studied, but it might be an option - you could see this redundancy as an opportunity to train to do something that's always interested you.
Oh well, it's just an idea.
Thinking of you anyway.

Bridgette

 

[OldManEmu]

Redundant

Redundant

Wayne I do not know what these thing are like in Canada. I can only relate my personal experience. I tried for many years to get made redundant, all very unsuccessful, even with a spill and fill a few years ago, I applied for no positions yet they wouldn't make me redundant, "your to valuable we can't let you go!!" Well finally last year at age 42 they gave me my wish, I was advised weeks in advance your no longer required, paid me out on the Friday, I had another consulting role to go to on the Monday. I was unemployed for a weekend!! I had qualified for a life time, inflation adjusted, retirement pension with my previous employer, I can't collect it until I am 55 but it is waiting for me!! This was my dream of the last 5 years come true. Work is now a hobby, when the current project I am working on is finalised in 2-3 years? I may retire from full time work at age 47 when this project is over, I also manage a private company, I am just having fun now!!: Endless options. Show me the money!!

 

[hensylee]

Wayne, what a predicament to find yourself in. There is no real security in jobs in the U.S. anymore. We used to have labor unions for protection of jobs. It provided for insurance, retirement, vacations, etc. Wonder why they don't bring them back. One day when all the jobs are outsourced and the others are taken by those who work for very low wages, it might happen again.

My son-in-law's job was ended, too. He went through a few jobs but finally has one that is with a foreign company who has plants in this country; he is happy; he has benefits; he has cheap insurance; he is doing something he loves to do and they respect him. I hope you find something that suits you and makes you happy. Maybe you will get lucky. Don't give up. Blessins..........

 

[WayneGM]

Thanks everyone for the words of encouragement.

My wife...she's the eternal optimist who figures "what will be will be". She'll go where ever the wind blows That's how she picked up and left her family in Ireland to come to Canada. Me...I'm the exact opposite. I have to plan everything to the last detail, and I'm so predictable because I tend to keep to the same old routine. I guess opposites do attract.

The company is pretty good at looking after their employees so I can't fault them on that point that's for sure. That's one of the reasons I really don't want to work anywhere else.

Gina - In Canada we no longer have any mandatory retirement age, although 65 is when our government pension kicks in, as small as it is. Most employer plans allow you to retire as early as age 55 but at a substantially reduced pension. My intent is to work until 65 if they'll let me. I can't afford not to unless I win the lottery.

Ross - I know what you mean about some of those younger workers. They seem to think an MBA entitles them to do nothing for something. However, the reason I feel a bit intimidated by the age thing is when I look around me, all the bosses doing the hiring are getting younger and younger. I worry they'll see me as an "old guy" and gravate to younger applicants who they perhaps feel more in common with. The good news is that I look young for my age. Most people who don't know think I'm closer to 40 than over 50. They can't ask your age on a job application here, although I think graduating in 1975 will be a give away.

Bridgette - Early congratulations on getting your teaching degree. If I can't find something in my field, I was actually thinking of taking up a trade while the income protection is still in place. Apparently we have a shortage of tradesmen around here, particularly welders and electricians. I still feel weird about that though....me going to a trade school with all those kids straight out of high school. However, one of the stipulations for the income protection is I have to be actively looking for work, because it's cut off as soon as I get a job, so going to school full time isn't an option. I'd have to go to night school or something they wouldn't deem is interfering with my job hunt. My wife does work, but I am the primary breadwinner, so going back to school without the income protection isn't an option. My daughter is still in high school and we're in the middle of putting my son through college so it would be a challenge without two incomes.

 

[Karlynn]

Wayne - I wish you the very best and that you find a job that is a good fit and adds to the quality of your life.

 

[Cooker]

Wayne,
Sorry to hear that you are going through this. It does suck. I have been through it. But youe wife is correct, it will work out.

My back ground and education is in engineering. After sixteen years I was out of a job. I ended up in the car business. Sales all the way General Mangager and back to sales (by choice). THe point that I want to make is that it is possible to turn left when you have turned right all of your life. I LOVE the car business. At times it can be stressful but tell me a job that is not. Don't be afraid to consider an opportunity that seems nuts. You never know.

Tom

 

[Harrybaby666]

Wayne, I am sorry to hear this....

Wayne, I am sorry to hear this....

I just don't know what to say other than I am sorry and I wish you nothing but the best for finding another job, and know you have people all around you, including myself, routing for you 3 million percent Harrybaby

 

[Adrienne]

I am really sorry to hear about what happened. I'm sure you have mentioned before what you did at that company, but I can't remember. What field are you in?

 

[Ross]

Ross - I know what you mean about some of those younger workers. They seem to think an MBA entitles them to do nothing for something. However, the reason I feel a bit intimidated by the age thing is when I look around me, as the bosses doing the hiring are getting younger and younger. I worry they'll see me as an "old guy" and gravate to younger applicants who they perhaps feel more in common with. The good news is that I look young for my age. Most people who don't know think I'm closer to 40 than over 50. They can't ask your age on a job application here, although I think graduating in 1975 will be a give away.

If they're worth their weight at all, they'll think of what benefit you'll be to the company vs a lazy young worker. I know what you mean though. It's hard to find people that think along the lines we do.

 

[Bina]

Wayne, we are twins!

Wayne, we are twins!

Good Morning,
Wayne, I was surprised to read your story this morning; it was like reading my life of the last year.....I'll try to be brief, but it may reassure you.
Hubby worked at Air Canada 26 yrs, worked his way up from nothing. No college, no university. He was Duty Supply Manager making 56K after a salary cut from A/C bankruptcy, etc. He was suffering from some stress, they moved him to IT where he could work on his own designing software still at 56,000. Fine. he wanted to retire and he was 45; 10 years from full retirement.
My OHS was Oct.2005, hubby had 5 wks vacation. Then December came along, hubby arranged to work from home for awhile, a co-worker dropped off a laptop. He was typing 10 hours a day beside my bed....the deadlines were murder. January 2006 he went back to the office 2 dys/wk, my daughter stayed with me. I was depressed and thought/hoped I would die.
February Air Can demanded he return to work full time, he did. I hung on.
His boss knew that we were both miserable.
2 weeks later he came home at lunch time with a big envelope in his hands ( I had heard on the news about a BIG lay off coming).
So, when he handed it to me all I said was "Cool, want some lunch?"
At least it was a good package: 14 months of full salary, then he could go onto pension at 1/2 pay or wait it out. We took time to think.
So he was very lost and sad, people called to check on him, he was not sleeping too well. I contacted his parents and they immediately said "Don't worry, we won't let you fall."
I still get emotional typing it.....this was such an amazing thing for them to say; very supportive and sincere.
Well, hubby was home for 2 weeks when we spied a job ad for a warehouse 10 minutes away. Really crappy pay, but I said "go and try, just to practice your interview skills". He's never been on an interview before....
Well, doesn't he get the job and they want him to start right away!!! That gave us such a laugh>>>>so he went, I said, enjoy yourself.
I was busy studying our finances, pensions, etc.
4 weeks later he was feeling so good about himself, they were a positive, caring, family run business. He decided to quit smoking after 30 years!!! A saving of $250/month plus the bonus of better health.
One year later, he is promoted to office work, IT again, and he is a back up for the health and safety committee. He is making half of the a/c salary, but he is HAPPY, HAPPY.
We cashed in the Air Can pension plan....only because of the previous AC bancruptcy issues. The money is locked in our RSP for another 9 years, but we had received another portion of it in cash which we safely invested.
And if all else fails.....we have his parents to "catch us if we fall".
We are very careful with expenses, I'm a bargain shopper anyways.
Don't worry, Wayne, we lived the nightmare, and are doing just fine, and you will be fine too....don't make any rash decisions, take it slow and then things just fall into place.
Feel free to ask me anything!
Bina

 

[Mary]

I think it will work out Wayne. Maybe not in the manner you thought it might, but further down the road, I think you will recognize that there was a plan.
I hope the "further down the road" is not very far!

 

[briansmom]

As an owner of a small business, I look more at experience than at schooling. I have a degree and I know how little I really learned in college. So, consider a smaller company that will respect your experience. I'm also of the school of thought that change is good. I hope that you will look back on this experience and think that it was the best thing that ever happened to you.

 

[EireCara]

*Waynes, sorry to hear this is happening you right now. I have a feeling from ''knowing'' you on this site that you are a good honest, concentious person !! I will be thinking of you and hoping that things work out, as you would wish them to.

 

[Susan BAV]

Wow, Wayne. Sorry to read this. Uncertainty can be extremely unpleasant. But I think your optimistic and supportive wife is right; something will work out and the two of you will thrive together with your love and positive attitude. Take care. And I'll also add here that many times I've noticed your kind and encouraging support and responses to members here. Very nice. Thanks.

 

[WayneGM]

Thanks for the encouragement. It's much appreciated.

I went for a long ride today. It helps me relax and think. While it's still scarey, I came to the conclusion that you, and my wife, are right. Things will probably work out somehow. The circumstances are beyond my control so I better just accept the facts, stop feeling sorry for myself, and get on with the job hunt. Funny, that's similar to the conclusion I came to when I first found out I needed OHS. In the grand scheme of things, if I could cope with the OHS, and it turned out alright, this should be a piece of cake.

The Retention Consultant is supposed to call me on Monday so that's when I'll have a better idea of the process and how long the income protection will last. It's a formular based on years service and age, so since both are relatively high, I'm hoping it's a good while. I'm pretty sure it will be measured in months, not weeks. I think it's the first time I've been grateful my age is relatively "high"

Who knows, maybe the best job is the one I haven't found yet. I'm feeling much better, although I'd be lying if I said I wasn't anxious about this anymore. At least I'm feeling more positive about facing the challenge, and much of that is thanks to your support. You guys are the greatest.

 

[WayneGM]

I am really sorry to hear about what happened. I'm sure you have mentioned before what you did at that company, but I can't remember. What field are you in?

I'm in sales and marketing. I spent the first half of my career (about 15 years) in various sales roles, mostly financial services. The last 15 years, I've had a "head office" job (one of the workers, not one of the bosses). The past nine I've spent in our Client Strategy Group. Essentially, I use internal and external data to study consumer behaviour, as well as competitor information and industry best practices, to form potential strategies we can use to increase business and differentiate what we do verses the competition. I fell into this by accident as I never formally studied this kind of stuff. I was asked many years ago to participate in a special project that involved this and somehow I seemed to have a natural knack for it, and I've been doing it ever since. However, over the past few years the composition, and nature, of the group has changed and I'm the last of the "originals" left.