Christina Jones, 57, Took a 60% Pay Cut After Layoff

Christina Jones, a 57-year-old marketing professional in Philadelphia, accepted a new role at a 60% pay cut after being laid off in early 2024, she told Business Insider. She spent months applying for jobs at her previous salary level. She found few openings and no offers.

"The biggest thing I feel is anger," Jones said. "I did everything right. I saved, I invested, I built a career. And now I'm starting over at 57."

With savings running low, she took a position paying roughly 40% of her old wage. She is now budgeting tightly and downsizing her lifestyle while continuing to search for a role closer to her former compensation. Jones said the experience reshaped how she views retirement planning and career security.

"I thought I had another decade of peak earnings ahead," she said. "That assumption was wrong."