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Original poster

Redundant mid 50s

173 replies

wtftodowithmylife · 11/02/2025 08:07

Name changed for this one.

Was made redundant at the end of last year from a senior corporate role. Very glad to get out at the time as my boss was ineffective and I was not happy. I'm 55. Thought I'd have a couple of months off and then start to look for another job, which is what I'm doing now. The job market is a NIGHTMARE!

I'm having an identity crisis where I can't decide if I get a PT job for the next few years and start to take my private pension to top things up, or if I want another full-on corporate role. I interviewed for a job for which I had all the right experience, and I thought it went well, but soul destroyingly I haven't heard back in over a week. I honestly thought I'd get called back but... Nothing. I don't think I have the resilience to do this over and over when I will probably lose out to someone younger.

Pension pot is about £350k with a small final salary pension due to be paid out at 60. DH still working and well paid, and has said we will work something out if I don't want to go back to FT work. We still have a mortgage to pay for the next 4 years.

WWYD? I'm overthinking this all to the nth degree at the moment.

OP posts:
Original poster
wtftodowithmylife · 09/03/2025 15:38

The thing that's getting me is that they said they wanted someone in by the end of March! I guess it's better than having got a rejection, it's just killing me having to wait so long.

OP posts:
Careerdecisions · 09/03/2025 16:38

Are you getting outplacement counselling or career coaching funded through your employer? If you have the option of that then take it. Not only will they be able to help you get clarity on your options they will have lots of good advice to get you there too. Even booking in to talk everything through can make a huge difference.

EasternStandard · 09/03/2025 17:15

Hang in there op. Fingers crossed

Kellyjelly33 · 09/03/2025 17:20

Took 6 months to find my last job, contacts now easily taking a year. It's a horrible environment with more hurdles than ever before.

Like other middle aged women I had to take the dates I studied and take some years out of my cv to even get my foot in the door some places.

blueshoes · 09/03/2025 18:06

Hang in there OP. It aint over till its over.

I was in my early 50s and my senior job took 7 months from first interview to offer. It went quiet over summer and I forgot about them. Then when they offered, I made them wait because I was more keen on another role. It has worked out in the end and I am still there.

Keeping fingers and toes crossed for you.

nodramaplz · 09/03/2025 18:09

Could you use your redundancy money to reduce term on mortgage from 4 to 2 years?

FoxBaseBeta · 09/03/2025 19:34

wtftodowithmylife · 19/02/2025 21:11

@OrangeCushioning yes, absolutely. They're based in Leeds now which is convenient for me. Hadn't seen there are vacancies.

Have you tried The Bank of England expansion in Leeds?

Original poster
wtftodowithmylife · 09/03/2025 20:00

nodramaplz · 09/03/2025 18:09

Could you use your redundancy money to reduce term on mortgage from 4 to 2 years?

I'd have nothing to live off if I did that.

Thanks for the words of encouragement. I'll look into Bank of England as well. I'm still waiting for jobs while I'm waiting on a decision.

OP posts:
Original poster
wtftodowithmylife · 12/03/2025 19:28

Still nowt. Doing my head in now. A week since my 3rd interview. I've convinced myself they've offered it to the other person and are ghosting me til they accept. 🙁

OP posts:
blueshoes · 12/03/2025 19:32

Another way of looking at it is it is only a week. If this is a mid- to senior- level, it probably requires senior people to discuss or give feedback (which is hard to get them together) and then there is the salary to offer you, and HR needs to get involved.

And so what if they offer someone else, that could still fall through.

Hold on tight. But still keep looking elsewhere to distract yourself.

Wishing you good luck vibes.

countingthedays945 · 12/03/2025 19:33

You are 55 and facing discrimination against older women. It's a bit naive to think you wouldn't tbh as it's a real phenomenon that older women face on a daily basis.

Original poster
wtftodowithmylife · 12/03/2025 19:54

countingthedays945 · 12/03/2025 19:33

You are 55 and facing discrimination against older women. It's a bit naive to think you wouldn't tbh as it's a real phenomenon that older women face on a daily basis.

Thanks that really helps. Not.

OP posts:
Original poster
wtftodowithmylife · 15/03/2025 07:59

I have an update - yesterday it was a busy day! I've been offered a 12 month contract. At the same time, the perm role I was down to final two for have decided they're going to interview someone else from an internal referral. I also got offered another interview next week. But I think I have to take the contract, right? They won't wait for me and I don't want to lose it. It's less money than the perm role, but also less responsibility.

OP posts:
Notmyrealname22 · 15/03/2025 08:25

Congratulations! Start the ball rolling on accepting the contract, and go to the other interview. Maybe let the perm role know that you have another offer but you are very keen on their job and could they speed up the process? Not sure how that would play, but could be worth considering. Apart from the money, does one job seem better than the other?

ZigZagJigsaw · 15/03/2025 08:26

Something similar happened to me last year, although I’m late 40s. I’m now in the civil service working for the regulator who regulate my old industry. Slightly lower salary but good pension and holidays, plus flexitime means I can do a 9 day fortnight. Would this be an option for you to consider OP?

Original poster
wtftodowithmylife · 15/03/2025 08:38

@Notmyrealname22 I've thought about doing the other interview (which is also perm) but if I got offered it having accepted the contract, it wouldn't sit right with me to have to go back on my word.

They're all WFH jobs, similar responsibilities, the only real difference is the salary. In some ways the FTC suits me as I may decide i can afford to retire after the year is up.

OP posts:
Firsttimeinmylife · 15/03/2025 10:21

great news on the 12 month contract! I’d take it as it could lead to more connections and opportunities! I have 3 opportunities coming to a head next week all at differing levels. Hoping something will materialise! Interviewing F2F on Monday which haven’t done in ages so bit scared about that especially as there’s a timed case study that I can’t prepare for so they could ask me anything!! Well done again!

Original poster
wtftodowithmylife · 15/03/2025 10:31

That's brilliant @Firsttimeinmylife - good luck!

OP posts:
blueshoes · 15/03/2025 20:17

Excellent news, OP. So happy for you 😁

I think bird in hand is where it is at, especially if it gives you the option to consider retiring at the end of the year (I hope I got the facts straight).

I slightly baulk at the perm role if they are interviewing an internal candidate referral. I somehow cannot help but feel the internal candidate has the natural edge.

As for the other perm role, it is still pie in the sky. Up to you whether you want to hedge your bets for a higher paying perm role and have the drama of going back on your word. If you only have to work for an additional year before considering retirement, I'd say you don't have to sell your soul for a perm role.

blueshoes · 15/03/2025 20:18

Firsttimeinmylife · 15/03/2025 10:21

great news on the 12 month contract! I’d take it as it could lead to more connections and opportunities! I have 3 opportunities coming to a head next week all at differing levels. Hoping something will materialise! Interviewing F2F on Monday which haven’t done in ages so bit scared about that especially as there’s a timed case study that I can’t prepare for so they could ask me anything!! Well done again!

So great to hear. Fingers crossed that at least one of the 3 opportunities bear fruit!

Original poster
wtftodowithmylife · 15/03/2025 21:41

blueshoes · 15/03/2025 20:17

Excellent news, OP. So happy for you 😁

I think bird in hand is where it is at, especially if it gives you the option to consider retiring at the end of the year (I hope I got the facts straight).

I slightly baulk at the perm role if they are interviewing an internal candidate referral. I somehow cannot help but feel the internal candidate has the natural edge.

As for the other perm role, it is still pie in the sky. Up to you whether you want to hedge your bets for a higher paying perm role and have the drama of going back on your word. If you only have to work for an additional year before considering retirement, I'd say you don't have to sell your soul for a perm role.

I tend to agree. And the contract could lead to more - who knows. I've made my mind up.

OP posts:
ZippyDoodle · 15/03/2025 21:47

That’s great news. Well done.

If the contract feels right just go for it. Contracts often lead into other things which may be good in the last few years before retirement.

Taliah5 · 15/03/2025 22:32

Redundancy in your 50s is a strange one. You kind of feel you've run your race work wise and can see retirement on the horizon or within touching distance. Plus, you end up having to jump through hoops to get a job offer when your 30 plus years experience should really suffice. To top it all you end up being interviewed for a role by someone who wasn't even born when you started your working career.

Notmyrealname22 · 15/03/2025 23:03

Taliah5 · 15/03/2025 22:32

Redundancy in your 50s is a strange one. You kind of feel you've run your race work wise and can see retirement on the horizon or within touching distance. Plus, you end up having to jump through hoops to get a job offer when your 30 plus years experience should really suffice. To top it all you end up being interviewed for a role by someone who wasn't even born when you started your working career.

To top it all you end up being interviewed for a role by someone who wasn't even born when you started your working career.

Ouch! True, but ouch! I had never thought about that. I am 49, started working full time at 17, so started my career 32 years ago. So yes, entirely plausible to be interviewed by someone who wasn’t even born then. What a depressing thought! And I can’t imagine them wanting to manage someone so much older and more experienced than them. I remember being 27, in my first management role and managing someone who has 41. It was not smooth sailing.

Original poster
wtftodowithmylife · 16/03/2025 09:25

V true, my interviewers for the contract were both in their 30s.

OP posts: