Mumbai, April 9: Hiring and firing are part of company decisions that affect many people during their careers. The layoffs help the company to save costs, restructure their business or adopt technology that streamlines the operations efficiently but it also affects the employees negatively. Bombay Shaving Company's CEO Shantanu Deshpande recently shared a video on a professional networking platform that mid-career professionals, around their 40s were getting laid off and said it was happening globally.

On LinkedIn, Shantanu Deshpande posted a video highlighting the issue of people losing their jobs in their 40s. He pointed out that it was an issue that very few people talked about. Deshpande said that such layoffs were happening across the industry and countries. According to him, the people losing their jobs in the 40s were the most vulnerable during a mass layoffs event. Tech Layoffs Continue in 2025: Over 27,762 Employees Laid Off by 100 Companies So Far, Automattic, Block, Siemens Join; Check Details. 

Video of Bombay Shaving Company CEO Shantanu Deshpande About "Layoffs in 40s"

Bombay Shaving Company's CEO said they were vulnerable because they would be the highest-paid people. He said, "... and that is the age that is very, very vulnerable for multiple reasons." He said the first reason he addressed was the "Need money for children's education". Second, he said that during the 40s, people also had their parents in their 80s and 90s, making it difficult to deal with medical expenses as well. 

Shantanu Deshpande said that individuals would also need money to pay the EMIs on their home loans. He said that people in their 40s must have bought a home and are counting on their jobs to pay off the home loan instalments. He said that such individuals would not have a lot of savings because their "golden salary period" would be when they get promoted to senior management. Fannie Mae Layoffs: US-Based Federal National Mortgage Association Lays Off 200 Telugu Employees for Misuse of ‘Matching Grants Programme’, Total 700 Affected.

Deshpande said, "When you lose your job in your 40s, it is a massive destabiliser financially and emotionally for you and your family."  He said that based on the frequency of the layoffs happening as per the articles, it would be a "worrying thing". 

(The above story first appeared on LatestLY on Apr 09, 2025 02:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).