People Losing Jobs In Their 40S: CEO's Explanation Draws Mixed Response

(MENAFN- Live Mint) Bombay Shaving Company CEO, Shantanu Deshpande, recently highlighted the growing pattern of people in their 40s“losing their jobs," and asked how the internet felt about it. While many netizens agreed with the CEO's views, others had mixed responses.

“They aren't losing jobs.... Companies are laying people off... correct language is important,” commented one user.

What did Bombay Shaving Company's CEO say

Shantanu Deshpande pointed out that employees in their 40s are often the first to be laid off when companies tighten their budgets, largely because they tend to be among the highest earners in their organisations.

Also Read | Google lays off hundreds in Android, Pixel and Chrome team

“Many professionals in their 40s are managing multiple financial responsibilities - from funding their children's college education to supporting ageing parents, paying EMIs, all while having limited savings,” Shantanu Deshpande shared in an Instagram post.

Netizens give a mixed response

Several users agreed with Shantanu Deshpande's views, with one user even sharing her experience of losing a job in her 40s. Meanwhile, other netizens either disagreed, or had some hilarious responses.

“That's why our grandfathers always recommended govt jobs,” commented one user.

Also Read | More Microsoft layoffs coming? Managers, low performers may face the axe: Report

Another user disagreed, stating:“Not in mechanical based industries, where the experience and knowledge cannot be matched with a younger guy with a degree. Yes the initial earnings are much lesser than other sectors, but once you master your space then you are called for solving the problems, tech based and IT industries are different where a younger guy can gain more skills than an older guy.”

Recent layoffs

Pharmaceutical giant Dr. Reddy's Laboratories is reportedly planning to reduce its workforce costs by nearly 25% as part of a major downsizing effort.

According to a Business Standard report, several senior executives have already been asked to resign, including many high-earning employees with annual salaries exceeding Rs1 crore.

Also Read | Mass layoffs at US' Internal Revenue Service, civil rights office hit first

The Dr. Reddy's layoffs is only one incident in the series of growing trend of layoffs. Earlier, tech giants such as Google, Salesforce had also laid off many of their employees.

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