(MENAFN- Live Mint) With a career spanning over two decades at Microsoft, 62-year-old Joe Friend was laid off in May, disrupting his retirement plans. Nearly six months after the layoff, he is still unsure about what to do next, except that his time in Big Tech is over, according to a report by Business Insider.

Earlier this year, Friend, who worked as a director of product management at Microsoft with a team of nine members, heard rumours of company restructuring that could impact the managers. However, he did not anticipate that his role would be at stake.

In May, he found out that he, along with 14 other members of his working group, including four managers, had been laid off.

"I wasn't entirely surprised by the layoffs. I was surprised to get caught up in them," the report quoted Friend, who lives in Washington.

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For Friend, the layoff was "doubly shocking" as it disrupted his retirement plans. He intended to work at Microsoft until at least his 65th birthday-a key milestone that, according to company policy, allows most stock grants to keep vesting even after leaving. After turning 65, he planned to retire or explore new opportunities. However, that plan is no longer feasible.

"My plan was to figure out what I wanted to do over the next three years," he said. "Then all of a sudden I'm at the doorstep, and I have to make that decision now."

Microsoft layoffs

Friend is one of the many Microsoft employees who have been laid off in the past year. Following the termination of approximately 6,000 jobs in May, Microsoft eliminated around 9,000 additional positions in July. A company spokesperson previously informed Business Insider that the company's focus was on reducing management layers and streamlining operations.

Apart from Microsoft, tech giants such as Google, Intel, and Amazon have announced their plans to cut back on managerial roles. While overall layoffs are still relatively low compared to earlier times, the impact on tech workers has been significant, with many facing difficulties in securing new positions due to a slowdown in white-collar hiring, the report said.

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Amid these challenging times, Friend reflected on his life after leaving Microsoft. Following the layoff, he continued to receive paychecks until mid-July, when he received a "very comfortable" lump-sum severance payment that was nearly equivalent to what he would have earned if he had worked for the rest of the year. He mentioned that he was fortunate to be in a strong financial position, which allowed him the time to plan his next steps.

Speaking about layoff, Friend said,"It feels like a betrayal, and it impacts me financially, but it's not going to hurt."

Instead of rushing into his next move, Friend consulted a financial advisor to assess the possibility of an earlier retirement. He started exploring job leads that appeared to him, but none led to any success.

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Now, Friend considers himself "semi-retired," and in recent months, he's been concentrating on assisting a young entrepreneur in developing a small business.

"It's not about making money," he said. "It's about supporting somebody who wants to transform their life."

\"It feels like a betrayal, and it impacts me financially, but it's not going to hurt.\"

Friend believes that he and his wife can manage financially without significant lifestyle changes after fully retiring, but he's not certain he's prepared to leave the workforce yet.

However, he is very sure that his next job won't be at Microsoft. He mentioned he used to believe the company had an implicit "deal" with employees: perform well, and you would be rewarded financially and have job stability. But now, he doubts that this is still the case.

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