Old Dogs, New Tricks
In today's hot job market, most laid-off workers move on to another company--unless they're managers over 40. According to the 1999 Job Market Index by Challenger, Gray & Christmas Inc., more than 92% of the firms launched by downsized execs in 1999 were started by people over 40. It's not always a choice. The survey suggests older workers find it's harder to get jobs. The good news? Average length of severance rose to a record 21.8 weeks--providing ample time and money for the downsized to get started.