As layoffs dominate conversations across industries, Shantanu Deshpande, CEO of Bombay Shaving Company, shares his views on which age group companies may target. According to him, the rising number of layoffs are affecting a particualr age group. Referring to it as a “global phenomenon,” Deshpande highlighted that 40 age group are at high risk due to their seniority and greater salaries.
As companies tighten their budgets and implement cost-cutting measures, the CEO notes that employees in their 40s are often the first to be laid off, as they typically fall into the highest-paid category. “Many professionals in their 40s are juggling college expenses for their children, financial support for aging parents, EMIs, and often have limited savings,” Deshpande noted in an Instagram post.
“At this age, you have the most responsibilities—EMIs, kids’ education, aging parents. The question is, how to prepare for the storm ahead?” he wrote.
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How To Overcome This?
In response to a query on LinkedIn about potential solutions to this issue, he offered three key survival tips:
“Upskill on AI, save more, and build an entrepreneurial mindset.” As per these potential solutions, the professionals in their 40s need to diversify and continuously upskill to remain relevant in the corporate world. Many others commented, supporting Shantanu’s observations, saying they too had lost their jobs.
Meanwhile, other netizens either disagreed or had some hilarious responses. “That’s why our grandfathers always recommended govt jobs,” commented one user. Another user commented, “Not in mechanical-based industries, where the experience and knowledge cannot be matched with a younger guy with a degree. Yes the initial earnings are much lesser than other sectors, but once you master your space then you are called for solving the problems, tech based and IT industries are different where a younger guy can gain more skills than an older guy.”
Recent LayOffs
According to a Business Standard report, pharmaceutical giant Dr. Reddy’s Laboratories is reportedly planning to roll out a layoff phase to reduce its workforce costs by nearly 25%. Several senior executives, including many high-earning employees with annual salaries exceeding Rs 1 crore, have already received requests to resign, according to reports. Earlier, tech giants such as Google, Salesforce had also laid off many of their employees.
