Laid Off at 55: How I Bounced Back After Losing My Job

Experiencing a layoff at the age of 55 can be a daunting and unexpected event, especially after dedicating over two decades to the same company. This is the story of Jay Cadmus, who found himself in this situation but managed to bounce back quickly with the help of his network.

A Long Career at IBM Comes to an End

Jay Cadmus had a successful career at IBM, spanning 23 years and encompassing various roles. Starting in Raleigh, North Carolina, he handled internal communications, local and regional media relations, and speechwriting for the general manager. He also worked on significant projects such as IBMs sponsorship of the 1996 Olympics in Atlanta and served as the media relations manager for the global technology services division.

The Shock of Being Laid Off at 55

Despite hoping to continue his career at IBM until retirement, Jay Cadmus was laid off at the age of 55 in September 2015. While the news was surprising, he was not entirely shocked, having experienced a layoff earlier in his 30s. This prior experience shaped his perspective on job security and led him to approach every role as a bridge job.

Adapting to Unforeseen Circumstances

Following his layoff, Jay Cadmus quickly took proactive steps to navigate the job market. Updating his resume regularly, maintaining an active LinkedIn profile, and nurturing his professional network proved to be valuable strategies. When the layoff occurred, he was prepared with an updated resume and immediately began applying for new opportunities.

Challenges of Finding Employment in Your 50s

Recognizing that the job search would be more challenging the second time around, Jay Cadmus understood the factors working against him. Being older meant facing ageism in the job market, with fewer opportunities available for individuals with extensive experience who may command higher salaries.

Overcoming Financial Hurdles Through Freelance Work

With financial responsibilities such as a mortgage and a child at home, Jay Cadmus turned to freelance consulting work to bridge the income gap. While adapting to financial adjustments as a family, he leveraged his skills to secure freelance content writing projects that provided a significant source of income during the job search.

The Importance of Networking and Persistence

Approaching the job search with a structured and organized mindset, Jay Cadmus treated the process as a full-time job. By applying for numerous positions, engaging with recruiters, and leveraging his network connections, he maximized his chances of securing interviews and job offers. Networking played a crucial role in uncovering job opportunities that aligned with his skills and experience.

Dealing with Ageism in the Job Market

Despite his qualifications and experience, Jay Cadmus encountered ageism during some job interviews. Observing biases against older candidates, he navigated through these challenges with resilience and continued his search for a suitable role.

Securing a New Opportunity and Moving Forward

After six months of dedicated effort and networking, Jay Cadmus landed a job opportunity through a contact in his network. This role not only provided financial stability but also allowed him to contribute his expertise to organizational change and management practices. Currently, he remains committed to his work and looks forward to potential freelance and consultancy opportunities in the future.

If you have a similar experience of being laid off in your 50s or 60s and would like to share your story, feel free to reach out via email at ehopkins@hotmail.com.

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By: ehopkins@insider.com (Ella Hopkins)
Title: Laid Off at 55: How I Bounced Back After Losing My Job
Sourced From: www.businessinsider.com/laid-off-find-job-retirement-savings-ageism-linkedin-2024-6
Published Date: Sat, 08 Jun 2024 07:00:01 +0000