Business
‘Discarded like a used tissue’: Readers on ageism forcing over-50s out
Age discrimination is rife in the workplace, Independent readers say, after new ONS figures showed unemployment rising and vacancies falling.
Readers said the lack of jobs was hitting older people hard with those in their 50s and 60s finding themselves “discarded like a used tissue” after decades of loyal service.
Some described spiralling into depression and experiencing financial strain after redundancy, while others said they had been forced to take low-paid or part-time work stacking shelves despite years of professional experience.
Several blamed cost-cutting managers who see older employees as “expensive” and “outdated,” arguing this short-sighted approach sacrifices skills, mentorship and productivity.
Others said companies’ obsession with cheap labour and short-term profits has left them struggling to rebuild teams.
A number of readers have turned to early retirement or self-employment out of necessity, only to find both solutions exhausting and precarious.
While a few spoke of eventually finding rewarding work, most painted a bleak picture of insecurity, lost confidence and wasted experience – a generation of “old horses” who feel written off before their time.
Here’s what you had to say:
Discarded after 30 years
My wife worked for the same company for 30 years. She was then discarded like a used tissue purely because she earned too much.
This led to four years of agony for us as she spiralled into depression and heavy drinking, which almost led to the break-up of our relationship. I was angry because she had given most of her life to the company. Her experience and skills were completely disregarded. After a year of job hunting, she ended up in a local supermarket, which she hated.
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Luckily, she had a private pension, which meant she could retire. I had, and still have, a relatively well-paid job which keeps us comfortable. I have every sympathy with those who are finding the adjustment difficult. Never give up, though. Something will turn up.
Belittling
At 62, I have never qualified for unemployment benefit when I was made redundant three times and always had private unemployment insurance. I was last let go three years ago. I had a stint as self-employed, where the exploitation was simply unbelievable.
I attended job interviews where I was told I was too senior/over-qualified for the roles. I had quite a few offers of paid work two days a week, but in reality had to be on-call throughout the week for no extra compensation. Could have worked for free, sorry, “volunteered,” doing exactly the same job as before, so I politely declined. Eventually, I made the decision to start drawing my very modest deferred council pension and to enjoy life with considerably fewer material things. It’s tough, but I am getting used to it.
The exploitation and belittling of my generation when applying for roles can destroy one’s self-confidence and mental health, which I experienced firsthand. I refuse to transfer my hard-earned skills to stack shelves at supermarkets.
Our kids will see no inheritance
I went through my first redundancy at 45 and found my next job after eight months. The second redundancy was at 55, and it took 18 months to find a job. The third redundancy was at 63, and after seven months I found a contract job that ended two months after my 65th birthday. Now unemployed, on the dole, I am waiting for November when my state pension kicks in, carefully using some of the funds in my private pension.
Our kids will likely see little to no inheritance, which is probably okay given it would have been taxed to worthlessness. When we have to move to a managed care facility and sell the house, that’ll finish off any money we have.
This country MUST pass an age discrimination law banning employers from only hiring younger workers OR face the oblivion of costs!
Older workers are more expensive
It has always been more difficult for older workers. If they aspire to stay within their field of work, an older worker is more experienced and therefore more expensive, and if they move to pastures new, they are regarded (usually wrongly) as more of a risk, less adaptable, and harder to train.
By the same token, many of the complaints from younger workers about finding it hard to get that all-important first job are horribly familiar from when I was job hunting for the first time 40 years ago. There’s a lot of panic about jobs, but despite the disruptive impact of AI, I’m not convinced there’s anything much new here.
Listen to us old horses
I’m 57 and used to work in accounting, doing audits for chartered accountants. I’ve been pushing trolleys at Tesco and filling shelves and working the tills at Co-op for six years now.
Here’s some business advice from me: Cutting costs (i.e., wages) instead of increasing turnover with increased productivity leads to a decrease in value and quality of the product/service. It is false economy. The business folds. They sucked it dry – I saw so many young hotshot CEOs do this in my 30 years. Greed has, and always will, be around.
But they don’t take advice from us old ones anymore – we’re old horses that are outdated, expensive to feed, and a couple of steps away from being glue. I could be training a whole new bunch of finance staff, which could keep businesses going for the long haul, but instead I’m packing those shelves with your bread.
It’s scary out there
I’m 60 now. Just before Covid, my job was relocated to someone cheaper and younger in the EU. Then Covid hit and there weren’t interviews happening anywhere. Covid ate all my savings and settlement, and I finally found a job in a new industry on half the salary, although just for two years. Luckily, it gave me the experience to bounce into a better permanent role afterwards. I do not make anything like my old salary, but I have a great job that I enjoy… for now. It is scary out there. I’ve never been out of work before and I’m not sure if I could find a new role now.
Some of the comments have been edited for this article for brevity and clarity.
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Mumbai: India’s private banks showed contrasting trends in asset quality in Q2 FY26, with larger lenders maintaining stability while smaller players, particularly those under new leadership, reported setbacks in earnings. IndusInd Bank and Federal Bank, both navigating transitions under new MDs, did not post year-on-year growth in net profits as the chiefs accelerated clean-ups and strengthened governance.HDFC Bank, the country’s largest private lender, reported a 10.8% rise in net profit to Rs 18,640 crore, driven by a 25% jump in non-interest income and steady improvement in asset quality. MD and CEO Sashidhar Jagdishan said economic activity was improving across customer and product segments, allowing the bank to accelerate loan growth. Asset quality remained a key strength, with the bank maintaining stable ratios for net interest margin, cost-to-income, and return on assets. HDFC Bank also continued its investments in technology and innovation, including GenAI and “lighthouse experiments”, aimed at improving efficiency and customer experience over the next 18-24 months.ICICI Bank’s net profit grew 5.2% to Rs 12,359 crore despite a steep drop in treasury income. Excluding treasury, core operating profit rose 6.5%, reflecting steady underlying performance. Provisions fell 25.9%, helping gross NPAs ease to 1.58% and net NPAs to 0.39%. The lender expanded retail and business banking loans, which now account for more than half its portfolio.IndusInd Bank, under new MD and CEO Rajiv Anand, recorded a net loss of Rs 437 crore as the bank accelerated write-offs and increased provisions in microfinance to strengthen its balance sheet. The lender also continued to contend with legacy issues stemming from prior accounting irregularities. Gross NPAs improved slightly to 3.60%, while net NPAs eased to 1.04% but deposits and advances contracted, and core income fell.YES Bank reported an 18.3% rise in net profit to Rs 654 crore, supported by higher non-interest income, cost efficiency, and retail growth. Net NPAs declined to 0.3% while gross NPAs remained stable at 1.6%. The quarter marked a strategic ownership change, with Sumitomo Mitsui Banking Corporation acquiring a 24.2% stake, and the bank continued to expand its branch network and digital footprint. MD and CEO Prashant Kumar emphasised the business model and strategy remained unchanged, with efforts ongoing to improve revenues, net interest margin, and cost-to-income ratio.Federal Bank posted a 9.5% decline in net profit to Rs 955 crore due to higher provisions, even as gross NPAs fell to 1.83% and net NPAs to 0.48%. Under new MD and CEO KVS Manian, the bank focused on strengthening risk management, increasing mid-yield assets, and expanding digital transactions, which now account for over 92% of all retail and corporate activity.PNB net profit jumps 14% to ₹4904 crorePunjab National Bank reported a 14% rise in Q2 net profit to Rs 4,904 crore, with operating profit up 5.5% to Rs 7,227 crore. Total income grew 5.1%, while net interest income slipped 0.5%. Gross and net NPAs fell to 3.45% and 0.36%, respectively. Advances and deposits rose 10.1% and 10.9%. Retail, agriculture, and MSME loans drove growth. CRAR strengthened to 17.19%, digital transactions surged 31%, and full-year credit growth is expected at 11%-12%.
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Gold and silver sales alone accounted for an astonishing Rs 60,000 crore of the total trade, registering a robust 25% increase from last year’s value
Gold prices have soared by approximately 60% year-on-year, crossing the Rs 1,30,000 per 10-gram mark. (Representational image/News18)
Indian consumers defied a massive surge in prices to spend an estimated Rs 1 lakh crore on Dhanteras this year, showcasing the festival’s undiminished cultural and economic significance. According to the Confederation of All India Traders (CAIT), this massive spending spree marks a significant festive boost, with strong consumer confidence overriding high-cost pressures.
The driving force behind this record expenditure was the traditional purchase of precious metals. Gold and silver sales alone accounted for an astonishing Rs 60,000 crore of the total trade, registering a robust 25% increase from last year’s value. This surge is particularly striking given the steep rise in bullion costs: gold prices have soared by approximately 60% year-on-year, crossing the Rs 1,30,000 per 10-gram mark, while silver prices have also jumped by roughly 55%.
CAIT attributed this resilient demand to the deep-rooted Indian belief in precious metals as the most secure form of investment and an auspicious purchase on Dhanteras, the day that marks the beginning of Diwali celebrations. While volumes may have seen a slight dip, the rise in value was substantial, as many consumers opted for strategic buying—favouring lightweight jewellery, gold coins, and bullion for investment purposes to fulfill the shagun (auspicious tradition).
Beyond bullion, the festive purchasing extended across various sectors, underlining a broad economic recovery. Other major contributors to the Rs 1 lakh crore total included utensils and kitchen appliances (estimated at Rs 15,000 crore), electronic and electrical goods (Rs 10,000 crore), and vehicles, textiles, and decorative items.
The festive spending also received a further boost from the popularity of the “Vocal for Local” campaign, with consumers showing a clear preference for Indian-made products, benefiting small traders and local manufacturers across the country.
Pathikrit Sen Gupta is a Senior Associate Editor with News18.com and likes to cut a long story short. He writes sporadically on Politics, Sports, Global Affairs, Space, Entertainment, And Food. He trawls X via …Read More
Pathikrit Sen Gupta is a Senior Associate Editor with News18.com and likes to cut a long story short. He writes sporadically on Politics, Sports, Global Affairs, Space, Entertainment, And Food. He trawls X via … Read More
October 18, 2025, 22:34 IST
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Business
Dhanteras turns record-breaking! Cars, electronics and jewellery see unprecedented demand; GST cuts, festive spirit fuel purchases – The Times of India
Dhanteras 2025 is turning into a record-breaking festival for Indian retailers, with strong demand across automobiles, electronics, and jewellery.Maruti Suzuki India expects to cross the 50,000-unit mark over the two-day festival, marking its highest-ever Dhanteras sales, said senior executive officer, marketing & sales, Partho Banerjee. “We are expecting around 41,000 deliveries today, with another 10,000 customers taking delivery tomorrow. This is going to be the all-time high for Dhanteras deliveries,” he told reporters. As per news agency PTI, Banerjee added that since the September 18 price reduction, the company has received nearly 4.5 lakh bookings, with small car bookings approaching one lakh units and retail deliveries reaching 3.25 lakh units in a month.Rival Hyundai Motor India Ltd MD & CEO designate Tarun Garg noted strong festive demand, with expected deliveries around 14,000 units, a 20 per cent increase from last year.“The positive momentum is driven by the festive spirit, a buoyant market environment and the encouraging impact of GST 2.0 reforms,” he said, as per PTI.Consumer electronics firms are also reporting a surge in sales. Panasonic Life Solutions director Sandeep Sehgal said large-screen TVs of 55 inches and above contributed to a 4K sellout growth of over 36 per cent from October 1 to 17, with overall TV and RAC sales expected to grow around 30 per cent compared to last year. Haier Appliances India reported strong demand for premium products such as large-screen TVs, side-by-side refrigerators, and front-load washing machines, with growth expected to exceed 50 per cent.The companies attributed the boost partly to the recent GST reforms, which reduced duties on electronics and essential goods, leaving more disposable income with consumers.Jewellery retailers also saw healthy festive sales, spanning investment-driven purchases above Rs 2 lakh to lightweight jewellery and gold coins, Tanishq senior vice president Arun said.Demand was robust across metros and Tier-2 and Tier-3 towns.Overall, the festival is witnessing an unprecedented consumer turnout, reflecting optimism fueled by GST rate cuts and the convenience of festive shopping across multiple categories, from cars and electronics to gold and jewellery.This year’s Dhanteras demonstrates a broad-based consumption surge, with both traditional purchases like gold and modern categories like automobiles and electronics benefiting from economic reforms and festive enthusiasm.
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