Connect with us

Business

We interviewed 62 older Minnesotans who lost white-collar jobs later in life. Nearly 75% refused to move, and 3 big problems kept them locked in place

Published

on



With the pendulum swinging away from remote work and toward return-to-office mandates, working in a new region or state may no longer mean simply logging onto Zoom. As a result, companies are increasingly investing in employee relocations, as the latest Atlas corporate survey reveals. But are these investments enough to keep the hiring pipeline flowing? 

Keeping a white-collar job or getting a new one may now depend on workers’ willingness to uproot their lives and hit the road. While Gen Z workers are more open to these moves, our research found geographic mobility for those over 50 can be hindered by life stage specific obstacles. Given a rapidly aging workforce and employers’ ongoing need to attract and retain talented workers, understanding these challenges is especially important for human resources managers.

In our new book, American Idle: Late-Career Job Loss in a Neoliberal Era, we interviewed more than 60 older Minnesotans who lost their white-collar jobs later in life, initially interviewing them in the five years following the Great Recession and then again a decade later. We were surprised to learn that nearly three-quarters of those interviewed refused to look for work out of state. Their comments revealed three common barriers to relocation.

Family ties

First, there are the all-important family ties; as Atlas discovered, this is the top reason why relocation offers are refused. We found older workers anchored in place by a broad range of familial commitments, including to adult children and grandchildren, as well as to aging siblings and parents.

There was also the issue of spouses and partners who were embedded in their own careers and understandably reluctant to leave after becoming the sole breadwinner. Sometimes they simply had their own preferences about where they would (and would not) live. These constraints, we learned, are non-negotiable. 

The locked-up housing market

Second, Atlas reports that a sizable number of relocation offers were rejected due to high mortgage interest rates and a tight housing market. Economic conditions were a similarly important consideration for our interviewees who lost their jobs in and around the 2008 Great Recession. The collapsing housing market accompanying this crash significantly reduced the value of our interviewees’ nest eggs at a time when they were already financially taxed.

Moreover, after spending decades residing in the same place, our interviewees were emotionally invested in their homes and deeply attached to their communities. Such connections are known to enhance personal well-being, an important consideration for anyone contemplating a relocation. 

The lost promises of the boomer generation

A third factor is surprisingly overlooked, both in the Atlas survey and by our fellow scholars. Generationally, our interviewees are baby boomers who entered the workforce in an era when continued employment was often guaranteed for loyal white-collar employees. Their late-career job loss instilled an understanding that relocation cannot safeguard against the layoffs that today’s white-collar workers routinely encounter. Age and experience, then, afforded our interviewees the wisdom to understand the personal and financial sacrifices of relocating at their late career stage. With relatively few years to recoup any potential losses, moving was simply too risky a gamble.

Yet, there is hope on the horizon. Atlas found a small but growing number of companies now offer nonstandard relocation incentives that include mortgage assistance, guaranteed home buyout options, and reimbursements for when the sale price falls below a property’s appraised value. Along with these financial supports, some companies also provide guaranteed employment for a specific duration to those who accept a relocation offer. These incentives go a long way toward making relocation less onerous for older workers but there is room for improvement. For instance, career assistance programs to support trailing spouses would almost certainly be welcomed. Additionally, employers could highlight community amenities, social activities, and support services that are both attractive to and essential for older workers and their families. 

When companies ignore generationally-based relocation constraints, they do so at the risk of missing out on a group who brings experience and expertise as well as the strong work ethic and a sense of duty demanded by employers from an earlier era. Moreover, older workers augment a multi-generational workforce, the advantages of which are increasingly apparent and coveted by organizational leaders. Given worker shortages and other current labor market challenges, recruiting managers should place their bet, and their support, on older workers. 

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list.



Source link

Continue Reading

Business

HP’s chief commercial officer predicts the future will include AI PCs that don’t use the cloud

Published

on



Increased focus on “privacy and security” may open the door for AI-enabled devices rather than rely entirely on cloud computing and remote data centers. 

“In a world where sovereign data retention matters, people want to know that if they input data to a model, the model won’t train on their data,” David McQuarrie, HP’s chief commercial officer, told Fortune in October. Using an AI locally provides that reassurance.

HP, like many of its devicemaking peers, is exploring the use of AI PCs, or devices that can use AI locally as opposed to in the cloud. “Longer term, it will be impossible not to buy an AI PC, simply because there’s so much power in them,” he said. 

More broadly, smaller companies might be served just as well by a smaller model running locally than a larger model running in the cloud. “A company, a small business, or an individual has significant amounts of data that need not be put in the cloud,” he said. 

Asian governments have often had stricter rules on data sovereignty. China, in particular, has significantly tightened its regulations on where Chinese user data can be stored. South Korea is another example of an Asian country that treats some locally sourced data as too sensitive to be housed overseas. 

Governments the world over, and particularly in Asia, are also investing in local sovereign AI capabilities, trying to avoid relying entirely on systems and platforms housed wholly overseas. South Korea, for example, is partnering with local tech companies like search giant Naver to build its own AI systems. Singapore is investing in projects like the Southeast Asian Languages in One Network (SEA-LION), which are better tailored to Southeast Asian countries. 

Asian AI adoption

Asia is HP’s smallest region, but also its fastest-growing. Revenue from Asia-Pacific and Japan grew by 7% over the company’s 2025 fiscal year, which ended in October, to hit $13.3 billion. That’s around a quarter of HP’s total revenue of $55.3 billion. (HP’s other two regions are the Americas; and Europe, the Middle East, and Africa.)

McQuarrie also suggested that there was an opportunity to be “disruptive” in Asia. While many business leaders have been eager to embrace AI, at least rhetorically, actual adoption is proving more difficult. A recent survey from McKinsey reports that two-thirds of companies are still in the experimentation phase of AI. 

But McQuarrie believed that AI adoption in Asia could be “just as quick, if not quicker,” than other regions. 

Asia seems to be more comfortable with the use of AI, at least when it comes to users. An October survey from Pew found that fewer people in countries like India, South Korea and Japan reported feeling “more concerned than excited” about AI compared to the U.S. 

When it comes to convincing more companies to adopt AI, let alone AI PCs, McQuarrie said the answer was to make AI functions as seamless as possible, so “that it doesn’t really matter whether you understand that you’re embracing AI or not.”

“What we’re doubling down on is the future of work,” McQuarrie said. “The future of work is a device that makes your experience better and your productivity greater.”

“The fact that we’re using AI in the background? They don’t need to know that.”



Source link

Continue Reading

Business

Trump administration waives part of a Biden-era fine against Southwest Air for canceled flights

Published

on



The U.S. Department of Transportation is waiving part of a fine assessed against Southwest Airlines after the company canceled thousands of flights during a winter storm in 2022.

Under a 2023 settlement reached by the Biden administration, Southwest agreed to a $140 million civil penalty. The government said at the time that the penalty was the largest it had ever imposed on an airline for violating consumer protection laws.

Most of the money went toward compensation for travelers. But Southwest agreed to pay $35 million to the U.S. Treasury. Southwest made a $12 million payment in 2024 and a second $12 million payment earlier this year. But the Transportation Department issued an order Friday waiving the final $11 million payment, which was due Jan. 31, 2026.

The department said Southwest should get credit for significantly improving its on-time performance and investing in network operations.

“DOT believes that this approach is in the public interest as it incentivizes airlines to invest in improving their operations and resiliency, which benefits consumers directly,” the department said in a statement. “This credit structure allows for the benefits of the airline’s investment to be realized by the public, rather than resulting in a government monetary penalty.”

The fine stemmed from a winter storm in December 2022 that paralyzed Southwest’s operations in Denver and Chicago and then snowballed when a crew-rescheduling system couldn’t keep up with the chaos. Ultimately the airline canceled 17,000 flights and stranded more than 2 million travelers.

The Biden administration determined that Southwest had violated the law by failing to help customers who were stranded in airports and hotels, leaving many of them to scramble for other flights. Many who called the airline’s overwhelmed customer service center got busy signals or were stuck on hold for hours.

Even before the settlement, the nation’s fourth-biggest airline by revenue said the meltdown cost it more than $1.1 billion in refunds and reimbursements, extra costs and lost ticket sales over several months.



Source link

Continue Reading

Business

Trump slams Democratic congressman as disloyal for not switching parties after pardon

Published

on



Trump blasted Cuellar for “Such a lack of LOYALTY,” suggesting the Republican president might have expected the clemency to bolster the GOP’s narrow House majority heading into the 2026 midterm elections.

Cuellar, in a television interview Sunday after Trump’s social media post, said he was a conservative Democrat willing to work with the administration “to see where we can find common ground.” The congressman said he had prayed for the president and the presidency at church that morning “because if the president succeeds, the country succeeds.”

Citing a fellow Texas politician, the late President Lyndon Johnson, Cuellar said he was an American, Texan and Democrat, in that order. “I think anybody that puts party before their country is doing a disservice to their country,” he told Fox News Channel’s “Sunday Morning Futures.”

Trump noted on his Truth Social platform that the Democratic President Joe Biden’s administration had brought the charges against Cuellar and that the congressman, by running once more as a Democrat, was continuing to work with “the same RADICAL LEFT” that wanted him and his wife in prison — “And probably still do!”

“Such a lack of LOYALTY, something that Texas Voters, and Henry’s daughters, will not like. Oh’ well, next time, no more Mr. Nice guy!” Trump said. Cuellar’s two daughters, Christina and Catherine, had sent Trump a letter in November asking that he pardon their parents.

Trump explained his pardon he announced Wednesday as a matter of stopping a “weaponized” prosecution. Cuellar was an outspoken critic of Biden’s immigration policy, a position that Trump saw as a key alignment with the lawmaker.

Cuellar said he has good relationships within his party. “I think the general Democrat Caucus and I, we get along. But they know that I’m an independent voice,” he said.

A party switch would have been an unexpected bonus for Republicans after the GOP-run Legislature redrew the state’s congressional districts this year at Trump’s behest. The Texas maneuver started a mid-decade gerrymandering scramble playing out across multiple states. Trump is trying to defend Republicans’ House majority and avoid a repeat of his first term, when Democrats dominated the House midterms and used a new majority to stymie the administration, launch investigations and twice impeach Trump.

Yet Cuellar’s South Texas district, which includes parts of metro San Antonio, was not one of the Democratic districts that Republicans changed substantially, and Cuellar believes he remains well-positioned to win reelection.

Federal authorities had charged Cuellar and his wife with accepting thousands of dollars in exchange for the congressman advancing the interests of an Azerbaijan-controlled energy company and a bank in Mexico. Cuellar was accused of agreeing to influence legislation favorable to Azerbaijan and deliver a pro-Azerbaijan speech on the floor of the U.S. House.

Cuellar has said he his wife were innocent. The couple’s trial had been set to begin in April.

In the Fox interview, Cuellar insisted that federal authorities tried to entrap him with “a sting operation to try to bribe me, and that failed.”

Cuellar still faces a House Ethics Committee investigation.



Source link

Continue Reading

Trending

Copyright © Miami Select.