When Emile lost his job at the end of last year, he did not expect it would put his entire life in Luxembourg at risk.
The 55-year-old compliance specialist – originally from France – had spent more than a decade building a career in the country’s financial sector. He bought an apartment, paid his taxes and, like many others, assumed he would finish his working life in Luxembourg.
Now, after months of unsuccessful job applications, he is preparing for the possibility that he may have to sell his home and leave.
“I applied a lot since the beginning of the year,” he said in an interview with the Luxembourg Times. “I have not managed to get a single interview.” Emile spoke on condition of anonymity as he feared speaking publicly would limit his job chances even further.
I expected to finish my career here
Emile
Jobseeker in Luxembourg
Emile is one of a growing number of residents over 50 who are finding themselves struggling in the local labour market. As of March, 8,436 residents aged 45 to 64 were registered as jobseekers available for work with the national employment agency Adem, accounting for 41% of all resident jobseekers. Just over half of them have been registered with Adem for more than a year.
Only around three in five people who retired in 2024 were still in full-time employment before collecting a pension, according to government data. The rest was already not working, for reasons ranging from unemployment to illness and being in a pre-retirement scheme.
Also read:Two in five Luxembourg retirees leave workforce before collecting pension
At the same time, a recent pension reform aims to keep people working longer, pushing the effective retirement age closer to 65.
A turning point after 50
For years, Luxembourg’s financial sector offered steady demand for experienced professionals, particularly in areas such as compliance and anti-money laundering. Emile remembers a very different market not long ago.
“Three years ago, I was receiving several calls a week from recruiters,” he said. “Now, nothing.”
He does not believe age discrimination is explicit. Instead, he pointed to cost. “I don’t think it’s about age,” Emile said. “It’s about budget. We are more expensive than juniors.”
A survey by employer union UEL found that more than half of HR professionals see cost as a key barrier to hiring senior workers. While around 25% of candidates interviewed are aged 50 or over, only 15% of new hires fall into that category.
While junior roles might be more threatened by outsourcing and automation, even senior roles are becoming harder to secure, said Emile.
The consequences are immediate, he said. Without a salary, even a relatively stable life can quickly become unsustainable.
Also read:Finance sector outsourcing reflects ‘skills scarcity’ says economy ministry
“I have a mortgage, monthly charges. What I receive from unemployment benefits won’t be enough. If I don’t find a job, I will be forced to leave and sell my home,” he said.
“Luxembourg relies heavily on foreign workers,” said Emile. “But when you lose your job, you realise how fragile your situation is.”
From job loss to forced departure
While Emile is still hoping, Gabriella’s Luxembourg journey has already come to an end.
Originally from Hungary, Gabriella lived in Luxembourg for nearly 15 years, working in accounting and finance. Her career was marked by frequent job changes, but she remained in the sector and built her life in the country.
That changed last year. At 52, she lost her job. Despite actively searching, she struggled to secure interviews.
Gabriella also chose not to use her full name, as she wanted to avoid being recognised by her former colleagues.
If I didn’t lose my job, I would still be in Luxembourg
Gabriella
Former resident who had to leave Luxembourg
“I became number two candidate for one position,” she said. “After that, I didn’t get callbacks anymore.”
At the same time, personal circumstances added pressure. Supporting a dependent family member abroad and facing unexpected expenses, she fell behind on rent. Without a job, securing a new lease became impossible.
“It became a vicious cycle,” she said. “Without a job, you cannot get an apartment. Without an apartment, you cannot stay.”
Also read:When experience isn’t enough: Luxembourg’s senior professionals struggling to find work
Within months, she lost both her job and her home. “If I didn’t lose my job, I would still be in Luxembourg,” she said. “If I didn’t lose my apartment, I would still be there.” Instead, she had to return to Hungary.
Gabriella has recently started her job search in Hungary and she is able to support herself thanks to a severance pay provided by her former employer, she told the Luxembourg Times.
Integration tied to employment
While Emile wants to keep working in Luxembourg – and Gabriella would have wanted to stay – both were also critical of the country and their ability to integrate.
Making friends outside of work was difficult, they said, with life revolving around their jobs. And even though Emile wanted to learn Luxembourgish, he didn’t find opportunities to actually speak the language and had virtually no interaction with Luxembourg nationals.
Gabriella and Emile describe a life largely centred around work, something that they both consider a downside to Luxembourg’s quality of life. © Photo credit: Lex Kleren
Gabriella confessed that she didn’t expect to actually miss Luxembourg.
“I hated it at the beginning. For 15 years, I never felt at home,” she said. “But I grew to love it. I miss the country, the infrastructure, my friends.” But returning would be difficult without stable employment and housing, she said.
“You are fine as long as everything works,” she said. “When it stops working, everything collapses.”
Also read:Should I stay or should I go? ‘Luxembourg Times’ readers respond
Emile, too, wants to stay despite not always having felt at home in Luxembourg.
“If I can balance my budget, I would stay,” he said. “I expected to finish my career here,” Emile said. “Now, I’m not sure I can stay, and that’s hard to face.”
Stay tuned!
In the coming weeks, reporting by the Luxembourg Times and its sister publications will delve into some personal stories behind their own reasons for leaving Luxembourg.
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