AI Article Synopsis
- Two surveys conducted on displaced workers from five manufacturing plants revealed that two years post-layoff, about 66% had found new jobs, while 20% remained unemployed and 10% had retired.
- After 11 years, overall unemployment among these workers dropped below 5%, suggesting more favorable outcomes compared to other European closures.
- However, older workers, particularly those in their late forties to early fifties, faced significant challenges in finding stable employment and often had to accept lower wages.
Article Abstract
How does plant closure affect the employment and well-being of displaced workers? This article presents the results of two surveys of workers at five manufacturing plants two and 11 years after mass layoffs. After two years, two-thirds of displaced workers had been re-employed, one in five workers was still unemployed, and one in 10 workers had retired. A decade after the plant closures, unemployment had fallen below 5%. Overall, post-displacement outcomes in Switzerland were more favourable than in other European plant closures. However, age disparities loomed large. Older workers struggled to find new jobs and often had to accept large wage cuts and unstable jobs. In particular, many workers in their late forties and early fifties were hit hard as they were too young to benefit from early retirement, but too old to start over.
Download full-text PDF |
Source |
|---|---|
| http://www.ncbi.nlm.nih.gov/pmc/articles/PMC11549011 | PMC |
| http://dx.doi.org/10.1177/0143831X231209825 | DOI Listing |
Publication Analysis
Top Keywords
Similar Publications
Want AI Summaries of new PubMed Abstracts delivered to your In-box?
Enter search terms and have AI summaries delivered each week - change queries or unsubscribe any time!