2 of 7
BACKNEXT
Michael Antidormi - 78% pay cut
Michael Antidormi - 78% pay cut
Michael Antidormi, center, poses with the captains of the Time Bandit from the Discovery Channel's Deadliest Catch.
Old Job: VP at Goldman Sachs, $160,000
New Job: Representative, Disabled Veterans' Outreach Program, $36,000
Hardest thing to give up: Not being able to help out my kids as much.


"Until February of last year, I was a vice president at Goldman Sachs with a salary of $160,000, including bonus and 401(k) contributions.

I had been the team leader of the computer help desk for more than six years when we heard Goldman was moving the desk to India. I was laid off Feb. 28, 2008.

I was 61. I'd been planning to retire at 66.

Instead, I received a ten-month severance package, plus $5,000 and vacation pay. After ten months, I finally found a job.

It pays $36,000. That's less than my bonus at Goldman Sachs. But there was nothing else out there. I'm a representative for Disabled Veterans' Outreach Program, which helps other people like me find employment and job training.

I used to help my just-married daughter and college-age son with things like car payments, but now my wife and I are struggling ourselves. That's a bit of a pill when you've worked for 43 years to make it up the ranks. I've had to drain a big chunk out of both an IRA and my 401(k).

The Goldman checks stopped coming Jan. 1, so I'm not yet sure how we're coping. I don't know we'll face in the months to come.

At my job, we try to tell the job seekers something a little upbeat - like a lot of things will be happening in 2009 with Obama. But I'm crying on the inside, because I don't know when it will change all that much." - as told to Julianne Pepitone

NEXT: Lisa Brake - 55% pay cut
Last updated January 12 2009: 3:07 PM ET
More Galleries
Cool cars from the 2015 Geneva Motor Show These are some of the stand-out cars and trucks on display at the 2015 Geneva Motor Show. More
Yahoo: 20 years of hits and flops The company that once was Google turns 20. We look back at the many, many brands it has cycled through. Remember Geocities? Broadcast.com? More
10 big dot-com flops Remember Pets.com? The Nasdaq is roaring back towards its all-time high. Here are some of the biggest dot-com busts from the last time the Nasdaq topped 5,000. More

Special Offer