“Especially for a 50-plus person” who decides to strike out on his or her own after retirement, layoff or a buyout, “the key is they’ve got to do their homework and they’ve got to do their due diligence,” Mr. Witkin added. “If they just walk in thinking they know what to do after working for a company all those years, they really don’t, because they have never really run a business.”
I see, thanks. So this practice is applicapable to "high income bracket people" in the US. But workers are usually laid off. Do I understand it correctly?
But in China, this word "buyout" is applied to workers, that is, they are not technically laid off, but they are "bought out," with a little sum of money, and they should never come back again for any benefits. But maybe we should not use "buyout" for the Chinese context." I hope you understand what I am talking about.