Managers in their 40s and early 50s have been hit especially hard by layoffs during this recession, according to Wharton professors Peter Cappelli and Franklin Allen. While some companies are getting rid of older workers to save money, other firms are looking to replace low-performing workers. Lynn Reaser, vice president of the National Association for Business Economics, says many companies are aware that senior managers "bring a tremendous amount of experience and insight to the table."

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