TiHabanero

Lost my contract with a company I have worked with for 5 years. It was the only contract I had as it was contracted as full time. Been remarkably emotional for me, first time for me to get emotional about work! Loved working with the company and must have invested more than my knowledge. Now I have confronted the realization that the Campy upgrade I wanted to do to one of the bikes this year is not going to happen. That is a real bummer and just adds to the emotional loss.
On the bright side, there is sunshine after rain.

Biker395 

I'm sorry man ... that sucks.

I've had clients come and go. There were when I was ridiculously busy and times when it looked like I wouldn't have enough to do and with expenses, ultimately be losing money. Being overworked or underworked sucks, but I must be type A, because I think being underworked is worse. I started questioning my competence, my ability to manage (should I have seen this coming?), and whether I was too old for it anymore. It's one thing to cut back when it is your choice. It sucks when it isn't.

I've seen it destroy people like my father and father in law. And at the same time, I've seen people respond to this kind of thing in positive ways ... making overdue changes they really never would have made without the push.

Have you got a plan? What sort of work did you do?

'02 nrs

maybe they are downsizing heading for the worst & your just the beginning.times seem to a changing fast with the virus taking on wall street.Campy should be around should the $$$ regroup.

Mad Honk 

TiHab,
I've faced this more than once and again just last October. (I was asked to re-assess my position as a coach in D-1.) Each time I have to sit down for a few days and then remember that I should be pee-ing down my leg because a new door is about to open! The only good thing about it moving forward and the sooner the better. There are so many good things in this world and even more in places to do rewarding work. I seriously doubt you will be on the couch for very long,and the new opportunities will be coming along. If you are good at what you do there will be plenty of folks looking for you. Get on Linked In and post your stuff and look around on there. I get about five looks at my resume every week on that site. This is just another speed bump on the road of life. Smiles, MH

Reynolds 531 

My best results have come from indeed.com. I may or may not be doing linkedin wrong. Older people cough * 50* may or may not be internet savvy, and I am one, but indeed.com has been the best for my company.

bpcyclist

Hang in there, my friend. Something good is going to come from this. I was only fired once, but it led to the greatest job and career I could have ever hoped for. If I had stayed at that crappy place, that opportunity would never have come along...
Another door opens.

Kabuki12

I have been self employed for well over 35 years and at 65 years young I find myself not being able to deal with slow spells as well as I used to. My field is a dying trade that few people have the skill to do so I generally have enough to keep me busy. As Biker395 stated, I would rather have the stress of too much work than not enough.i have lost key accounts and it always hurts. I pour myself into my work with focus and passion so I take it personally which is not a good thing. It is business, nothing to do with personality. I am about 6 months from full retirement and the stress will be much less financially. I will still work because I am in Southern California and I enjoy my lifestyle. I like my cycling for this reason, it gets me out of my head! Hang in there, we have been there you’re not alone.

FiftySix

Sorry to hear about that, TiHabanero. About 4 years ago my wife lost her job and our benefits with a large company. It took her 1.5 years to find another job at a mom and pop company.

While I've been lucky not to be without work at the mom and pop company I work for, her job loss sure made us cut back on everything for quite some time. Even after her new job hiring as she was a contractor with that mom and pop company for half a year.

FiftySix

Same here in my industry. Companies keep being bought out, consolidated, closed, etc. My work has stayed steady due to our competition closing their doors, but newer competition has come from people working from their homes. If I can get 10 more years out of my line of work, I'll be 65 and I will migrate into something different for work if possible.

fly135

OTOH, more time to ride!

TakingMyTime

There's always time, and nothing wrong with being a little emotional regarding the loss of a job. Whether you leave it or it leaves you, whether you loved it or not, it was still a part of you.

Now, make a commitment to get out there and find a job, your bikes counting on you to dress it up with some new Campy components!

ultrarider7

I can identify. I sold my company to a competitor about four years ago. After being self employed for 20 plus years, it was a difficult to have to take advise and direction from people who clearly had no idea what they were doing. After the sale I was an independent contractor for those four years, and my contract expired last fall. Since then, my only responsibility is to cover a few accounts (out of the 200 or so I had on the books when I sold) and no further payouts from the sale. In theory I should have had lot of free time, but I end up getting pulled into meetings, where basically I'm working for free. Since it's been winter here in Minnesota when my contracting gig gave way, it hasn't been a big deal. Now with spring around the corner I fully intend on taking advantage of my new found freedom and ride as much as possible.

Koyote

Sorry to hear it, TiHabanero . But upgrades can wait - key thing now is reassessing your career path, perhaps adjusting your financial plan, etc.

vinfix

Layoffs make you reconsider things, from skills to employability to finances (so maybe go with Ultegra!).

rumrunn6

I feel for you man. been in that situation more times than I care to remember. hang in there

indyfabz

In 1999, when I was 34, I volunteered to be downsized in the wake of an acquisition. Ended up taking nearly two years off from the working world, during which time I took 3 long bike tours, including one of nearly 4 months. About 10,000 miles total. Also pursued some other interests and saw a lot of matinee movies. Fortunately, I was able to flop with mom when I wasn't travelling. And no: I did not get unemployment or other government benefits.) Wouldn't trade the experiences I had for the money and career advancement potential I gave up. I know I was in a different situation than most since I had no spouse, kids or debt, but I highly recommend taking time off from the "normal" life if you can swing it. The happy ending to the whole affair is that in 2001 I basically got my old job back and have been here ever since.

philbob57

Very sorry to read this, TiHabanero. Best of luck in finding your next gig.

Finding a new job is 'full time' work in a way, but you get to have longer breaks. Enjoy the rides.

What do you think about talking to a labor lawyer? 5 years full-time sounds like employee to me, not contractor.

Barry2 

I don't know where you're located. But in my area the unemployment rate is so low, companies are fighting with each other to get qualified & experienced candidates.
I see apparently good jobs in my field going unfilled for extended periods.

I'd recommend, if possible, getting the help of a an agency. There is nothing like having people out there who's job is, to get you a new job.

All th best

Barry

TiHabanero

Been thinking a lot about the next step, and have decided that it is to work towards retirement. Been a little over a month since this went down, and have been on 3 or 4 interviews each week since then. The labor market is tight around here and it seems jobs are aplenty. Yesterday's interview was a flop! Just blew it and I knew it 15 minutes in. Should have an offer today or tomorrow from another company. Decided no more contract work for me and going for direct hire positions. A local bike shop I worked for contacted me in need of a store manager and a mechanic. Not interested, but it is a possibility if necessary. Just need 5 more years and I will then go part time and retirement. Gives me a warm fuzzy feeling!

Oddly, my life is mirroring my father's life. He was an engineer, and was laid off at age 60, same as me. Took 6 or 8 months to find another job, had to move several states away, then retired 4 years later. He was finding it tough to look forward to going in each day and was having heart trouble. Wasn't worth working anymore. Looks familiar to me, but fortunately I don't need to move.

Flip Flop Rider

Sounds like you have a good handle on it, and a good outlook. I wish you the best.

Am 57 now and am interested in how this turns out

Biker395 

I hear ya on the no contract work stuff.

I've done both ... been a regular employee with benefits and "steady" work. That can be good, because your employer has to deal with a lot of issues ... work scheduling, benefits, and client management. But then again, you are working for someone else, and while it's great if your employer is great, it is not so great when they are not.

Self employed, you have to deal with all the issues. Work scheduling, client management, deciding on and paying for benefits, billing clients (what a PITA that has become ... I now know why a lot of docs I knew left private practice). But then again, for better or worse, you are master of your own fate. Your situation is only as good as you make it, and that requires some serious self-assessment.

Sounds like it is all working out well for you. My advice is to use this as an opportunity to do a little long term planning ...

jppe

TiHabanero- Hate to hear about the unexpected changes. I’m sure it’s stressful just dealing with the changes. Your wealth of experience will be a great asset to someone needing your skills.

TiHabanero

Thank you to all the encouragement providers out there. My wife has been exceptionally supportive and at the rate interviews are happening, something will pop eventually. Have written a few of the interviews off as it was obvious the company was the wrong place for me. If the body were able, I'd go work on a farm again!

zacster

My company was offering voluntary early retirement and then involuntary layoffs with a package. Given that I was a good employee and well liked, I opted into the involuntary pool and got the package AND the early retirement. I was going to be done in 6 months anyway.

There sure are a lot of places to ride in the course of a week!

Oldguyonoldbike

I went through this two years ago, at age 56. It took several months and several interviews to land a job - a state job, not a contract job. Those months were scary and very trying psychologically. I'm not very good at waiting and toyed with the idea of working at a hardware store, at a bike shop (got an offer), and at a brewery. My wife was very supportive, without which I probably would have had a breakdown. I'm glad I waited for a decent fit, though. I don't love the new job, but it is secure and should get me to retirement. The funny thing is, I never used to think about retirement - now I think about it nearly every day.
Hang in there.
By the way. Within less than a year on the new job I splurged on a Campy upgrade. My wife encouraged me to do it, said I deserved it after all the stress.