Shantanu Deshpande, CEO of Bombay Shaving Company, says that workers in their 40s are often the first to be affected during mass layoffs because they usually have the highest salaries.
In a recent Instagram post, he shared, “When mass layoffs happen, people in their 40s are the most at risk since they earn the most.”
A Global Trend Driven by AI and Economic Instability
Deshpande explained that this trend is not limited to India — it’s becoming more common worldwide.
The rise in layoffs is due to economic uncertainty and the growing use of artificial intelligence.
“Companies are focusing more on cutting costs and improving efficiency, which has led to several rounds of layoffs,” he said.
Emotional and Financial Challenges
Deshpande pointed out that losing a job at this stage of life can be very tough, both emotionally and financially.
“People in their 40s usually juggle many responsibilities. They might have children in college who need financial support and elderly parents who need medical care,” he noted.
Heavy Responsibilities at This Age
He added, “Losing a job at 40 can lead to a major financial and emotional crisis.
At this age, people face heavy responsibilities like EMIs, children’s education, and caring for aging parents.” These responsibilities, he said, can quickly drain a person’s savings.
Losing Peak Earning Years
Deshpande emphasized that this is the age when people are aiming for senior management roles and expecting to reach their peak earning potential.
Losing a job now can create major instability. He described such situations as an “emotional and financial disaster” for those affected.
