This sucks and is one of the consequences of higher for longer and the entire Ponzinomics we are living through. There will be many more like them.
“Just don’t dance.” 
Discussion
Getting laid off over 55 must be scary as hell for the vast majority of people.
Many skills fade quite fast too, once you are out of employment. Inflation in general just brutal for older people. It destroys your savings.
There’s something that fixes this, but I forget what it is?