New direction for over 50s...

The majority of over 50s affected by redundancy within the last three years have changed career direction, either undertaking a different working role, or entering an entirely new sector.

Pay cuts have also been necessitated, with 77% of workers accepting a reduction in salary for permanent opportunities, 45% of which said their new salary was 'considerably lower.'  

4.7 months was the average period of time spent looking for work.

[source: Recruiter 20.6]