what can you do if you're being forced into early retirement?

[jman0]

My own mother wants to know.
Been with the company almost 20yrs.
Now they're bullying people out the door it seems.
What can one do?
What are the do's and don'ts for this sort of stuff.

[Craftsman]

1. Realistically she needs to do 5 things.

1. Make sure she has as much money as possible in an Murphy's Law fund, about 6 months bills minimum.

2. If possible pay off and debts to reduce her bills.

3. Take a hard look at her investments.

4. Get her resume up to date and out there.

5. Be a good worker and hope they pass her by until it is either over, she finds better, or she is walked out.

Good Luck.

[A HERETIC I AM]

2. She probably won't have much of a choice

and that choice would probably be "Take this package (Perhaps a buyout) or we are going to reduce your pay (and everyone elses)"

Is this a Union job she is at?

If the company is in serious financial straits, they might simply eliminate her position. If they are offering an early retirement "buyout" type plan and she refuses to take it - she is risking being laid off and getting nothing.

[CTyankee]

3. Been there myself, but I was old enough to collect SS at the time.

They eventually got rid of every female employee over the age of 60 (there were 6 of us out of 50 employees total).

I went on my husband's health care plan, for starters, which was a good move and a good plan (he belongs to a union).

I consulted a labor lawyer which just confirmed what I felt was happening to me. He wanted to know about issues related to age discrimination. Your mother might want to look into that.

I reduced my personal debt and increased my 401k contributions. That meant no vacations, no eating out but I had to maintain a professional wardrobe unfortunately.

Eventually, I declared that I was retiring (there was no hope for a "golden handshake")but I gave myself enough of a timeline before my leave date to make my plans. Using all of my contacts, I secured a part time job which started the minute I walked out of the door.

It was a difficult time. The hardest part is to keep believing that you are a good person who put in her time and effort on the job and was honest, dependable and talented. Sure enough, at the part time job I shined and was appreciated and praised for my work by both my boss and my coworkers. Your mom should try to get perspective, it will all come around, I am sure...

[jman0]

4. no they're profitable

Just not profitable "enough".
http://money.cnn.com/magazines/fortune/fortune500/2007/snapshots/81.html