<p>Inadvertently clicked a PDF file left on our company server that was an offer letter from another company with purchase terms for our firm. The owners have been in and out of meetings the past few weeks, they are 64 and 67 and i can understand that this is there golden oppertunity to sell the firm. The buying company is in another state so none of us here are likely to survive. I am the ony employee who knows this besides the owners. I am the office manager/accounting manager of the firm, a jack of all trades. I have read a lot about age discrimination out there and feel it would be difficult for me to land a new job. I own some stock in the company but would not recieve enough money to get me to retirement age. Have one child in college and a junior in high school. This is pretty frightening. I would appreciate any advice, words of encouragement.</p>
<p>I am so sorry, hugs. Yes, I do beleive age discrimination exists. I would recommend, in addition to updating resume, networking, trying to work on your appearance (not that there is anything wrong with it), but update it. </p>
<p>There are some job boards you can post on anonymously. Take out name of present company and just put [Privately owned services company] – or whatever is close enough.</p>
<p>The financial challenges and finding a new job (if need be) may be daunting. . . but in the process, don’t think less of yourself just because you might lose your “job title”. You are still you . . . the same good person as before. So, don’t define yourself negatively due to something completely out of your control. Muster your belief in yourself and your talents and receive the advice and support of loved ones and friends and go forward full speed ahead with faith that your creative efforts will bear fruit whether you remain on this job or land a new job.</p>
<p>Yes, this is scary. But since you can’t change the circumstances/situation, my advice is to handle it the best possible way.</p>
<p>Since you are a jack of all trades, if/when the company is sold, can you be valuable to the purchasing company, even if on a transitional basis?</p>
<p>Another idea is to work with the current owners for a fair severance package and/or career placement assistance.</p>
<p>Some employers will welcome experience and competence. Make sure your resume is updated, especially if it’s been a long time since you have applied for a job. Make sure your look is also updated, if necessary. Don’t apologize for being old. See if you need to update any skills.</p>
<p>Are there any consulting possibilities in your field?</p>
<p>I know it can sound like a cliche to talk about attitude, but you need to turn this around mentally from being a terrible calamity & you’re never going to be able to get another job because you are so old, to embracing the new possibilities. You may need to fake the attitude for a while (at least when you need to) but if you can’t change it, then you make the best of it.</p>
<p>My suggestion is, when the new owners take over, don’t show weakness or vulnerability. Be pleasant, of course, but keep in mind all of your accomplishments and the incredible value of the firm’s “historic memory,” embodied in YOU. You may convince them, with your confident yet amiable attitude, that the firm would suffer without you. And you and I both know it would, am I right?</p>
<p>Now if they decide to fire everybody, and there is nothing to be done about that, you will have to adapt to a new reality. You are not alone - so many of us these days must deal with this. </p>
<p>But accounting lends itself to very flexible arrangements - perhaps you could find some local firms to contract with, come in for a few hours a week? And remote accounting - why, this could even be done with your current firm, even if they are located elsewhere, couldn’t it? I would advise you to put on your Cloak of Flexibility, Positivity, Confidence, and Strength. It will be a challenge. Try to think creatively - look for problems in the field, and offer solutions to your potential clients or employers - in other words, if you can spot a need and fill it, you will be at an advantage.</p>
<p>Also, if you don’t currently exercise, I recommend it (even just walking every day), because it can really infuse the mood with positivity, and it sounds like that will be helpful under these trying circumstances!</p>
<p>Best of luck! I hope this didn’t sound presumptuous - I try to tell myself the same things, but don’t always succeed!</p>
<p>Knowing this now can help you make contingency college plans for your high school junior. A financial safety is definitely important in this situation.</p>
<p>There could be plans you know nothing about. However, there would also be a severance package from the people buying the company. Why would the buyers be interested in this company? To gain market share, for the intellectual property, to get you all out of the market? The reason they want it will tell you if they’ll keep you all on. Do the owners currently own or lease the building? Being sold doesn’t necessarily mean being let go.</p>
<p>That being said, you are also right to be looking out for yourself for new opportunities. It is scary, and there is really no way to determine why someone wasn’t chosen for a position.</p>
<p>I can totally understand your stress. Put that energy to good use and polish that resume (or write one if you don’t have one). Put it on monster.com and/or local job search sites without your name or too much descriptive information. There definitely is age discrimination but you can sell your experience as long as you show total open-mindedness to the new owners’ new ways. One reason people get let go in transitions like this is rigidity and holding on to “the way we’ve always done it.” </p>
<p>Forewarned is forearmed. Good luck.</p>
<p>H was downsized two years ago and it took six months to find a new job. His severance package was six months. The new job is better-not only in pay but it’s more interesting and more what he has always really wanted to do. My point here is that this may not be as big a disaster as you think.</p>
<p>When this happened we had a son in high school and a daughter in college. I was literally sick when he came home with the news. Hang in there, it will be OK.</p>
<p>H spent at least eight hours per day looking for jobs. He was online, networking, in networking groups, calling old co workers and friends from grad school. This is the time that you will be glad you have been a team player, kept your nose clean, and not burned any bridges. He was hired not only because of his resume, but because so many people had such good things to say about him.</p>
<p>Good luck! You can land on your feet and keep on running. Or maybe you will get to stay…</p>
<p>Consider starting a job search right now. It might take longer for you to get a job than it would for a younger person. But it is not impossible. </p>
<p>I got a new job last year at 55, and I look older than the average person of my age. But I had a job at the time, so I wasn’t in a huge hurry.</p>
<p>I have company stock called grant stock. If I leave before they sell the company, I get nothing for it. Once they sell the company, its turns into common stock which I can collect on. So I have to wait until they actually sell the company. I am however working on my resume. I have been with the company 12 years and have gained some good experience, I hope someone will value it.</p>
<p>Do you know for sure that the buyer will shrink or close the company? Or is it possible that the buyer will want to maintain or expand the company?</p>
<p>Would it be enough money for you to start your own business? Would the current owners be interested in starting another business that you would manage?</p>
<p>Don’t discount the enormous value of your years of experience and the network you’ve built. It’s quite possible that there are customers/suppliers/vendors that you’ve been dealing with for years who would love to hire you.</p>
<p>At age 50, I started a non-profit, “re-inventing myself,” as S said. A GF did this as well, going from being an employee to a consultant & becoming the major breadwinner in the family in the process. It is scary, but hold firm, polish that resume and see what options there are as the sale is finalized. As has been said, you MAY be offered a generous severance package or you may be asked to remain with the company or you may wish to find a new job or start being a consulant elsewhere.</p>
<p>Hugs to you, borghugh. I was in almost the exact same position 5 years ago - my company was bigger than yours, I was a little younger than you, but essentially my research site closed and 2000+ employees were laid off. Like you, I had a child in high school, and I really didn’t want to leave town to look for a new career. It was ugly. My advice would be:</p>
<ol>
<li><p>Allow yourself to grieve the loss of the old job, but try not to dwell on it. Try to focus on new opportunities rather than obsess about the past. This is really, really hard to do!</p></li>
<li><p>Work on your resume, accept all offers to help with the job search, and network. Don’t be afraid to reach out to your family, friends, and friends-of-friends. Whatever you do, start looking NOW. Once the intial shock wore off, I started applying for new jobs ASAP, and I applied to everything that sounded remotely applicable to my former job. I also followed up every lead as aggresively as I could.</p></li>
<li><p>Don’t sell yourself short. You DO have a lot to offer. As others have said, maybe consulting would also work for you - quite a few of my former co-workers have done this, some more successfully than others.</p></li>
<li><p>Save as much money as you can. This one sounds stupid, but for panicky worriers like me, it was important to know that I had some money in reserve. I got a pretty big severance from my old employer, and I saved it all “just in case.” You wouldn’t believe how many co-workers spent that money on a big vacation splurge or a new boat.</p></li>
<li><p>Realize that the next step may be a mis-step, too - but that’s okay. I did find a job but it has turned out to be a not-so-good match. Currently I’m working on PLan B (earning my teaching certificate), so that I will have other options soon.</p></li>
</ol>
<p>Yes, I think there is age discrimination, but what can you do about it? It is what it is. I did start coloring my hair, and I work hard to stay in shape, but none of that affects my date of college graduation on my resume. 
It’s just one of those things you can’t control, so you have to let go of it.</p>
<p>Also, be good to yourself. It’s a stressful time. I will be thinking of you and sending cyber hugs your way!</p>
<p>A suggestion about your resume - I don’t know how long ago I did this, but at some point I dropped the year off my degree in my “Education” section. I just listed “Bachelor of Arts from University of StateName, Summa Cum Laude”.</p>
<p>For prior job experience, especially since early on I had several jobs (for a while we moved for H’s job every 2 years) I only listed my most recent past positions, with the years in each. Then I had a line “Earlier professional history is available upon request, and includes employment in insurance, accounting, legal and not-for-profit sectors.”</p>
<p>This way if an employer was reviewing my resume, they would see my relevant experience and my degree, but not immediately know my age, plus it allowed me to list more relevant information about my skills and limit the length of my resume.</p>
<p>Something similar happened to my significant other last year and honestly it was a good thing. He received a very good severance, so that definitely helped, but he immediately began contacting all of the people in his network and has landed on his feet nicely - and he is roughly your age. He had the same concerns regarding age as you had, but it was not an issue.</p>
<p>Get on LinkedIn. Call all of your friends that you trust who won’t blab anything and tell them that you may be looking for something new shortly (I would not give them more details) and ask them for any leads or to keep their eyes and ears open. Get your resume updated now. </p>
<p>I would be surprised if they didn’t keep you post-sale for at least a period of time to help with the transition, assuming they intend to continue to run the business. I think at the very least, if no severance is offered, that you can collect unemployment to help cushion the blow.</p>
<p>Good luck. I’m sure it’s scary.</p>
<p>Yes, I don’t see why it’s essential to have the year you got your degree or any relevant licenses, just list them and as needed, you can provide that info. Try to think of what you’ve always WANTED to do but never got around to–perhaps now is the perfect opportunity. That’s how I ended up starting & running this non-profit. It’s been a fascinating journey & I’ve met a lot of great people in the process.</p>
<p>First, I want to thank you all for your kind words and advice. It helps to know that there are still good people out there in direct comparsion to the cold coporate world. As it stands right now they are in talks with the other company and want to complete the deal by 3/31. After that day I don’t know what will happen. I looked at the company website and they seem to have all there admin functions centralized so that does not bode well for the admin employees here. Will try to keep a postive attitude, never thought I would be in this position.</p>
<p>What you may find is that it will certainly take awhile for the new owners to get all their ducks in a row. They may decide to run your division as a separate entity. They may decide to run it as a satellite. They may decide to close it and move all the operations. They may decide to do all of the above, sequentially. </p>
<p>I gather you are a key employee. You may find that you have a job with the new owners for longer than you think. If they intend to wind down operations, perhaps you can negotiate for a nice severance package from them if you hang on until the end of operations in your facility. </p>
<p>When the change of ownership is announced, you may want to have a nice friendly one-on-one with the current owners and find out where you stand. They might possibly be able to negotiate a nice package for you with the new people. </p>
<p>My underlying thought is be prepared, but do not panic. Things may turn out better than you think.</p>