I'm not sure why a man's perspective is much different to a woman's, Mignon.   As a female, the same thing happened to me after 25 years of employment with the one firm.   I was paying off a mortgage , no other wage coming in.   The physchological impact is just as deep.  In my case, I actually had to teach someone a friend of the new MD my job, then demoted to a far lesser position, until they could legally say I was redundant.

Believe me, the financial and  emotional effect is no different surely. 

The best thing you could do for your friend is let him know he's not useless or unwanted, and if he's fit, he should look for any kind of work, even if it's delivering junk mail.  There are more retraining or training courses around now.   Go door to door and ask for work.   A relative of mine was made redundant just a few weeks ago.  He and his wife had to move interstate, and when in a second hand furniture shop, looking at some furniture, he mentioned he had  had  a similar business a few years ago, and asked if there were any jobs going.   The owner said "Yes.  When can you start?".  He's in his 60's.  

The worst thing your friend can do, is sit at  home watching TV.

It is a pleasure to read such a well considered reply.

Just to add that for workers (the PC term that replaced employees or staff) who have been thrown onto the scrap heap it is always necessary to watch for signs of depression.  Google Beyond Blue.

Thanks Koko, I asked for a man' view because I am a woman. I have been made redundant several times my self but I always had my other work ( family) to give me job satisfaction.

My friend's family are all grown up and he has had the same job for the past 25 years and isn't trained for anything else. He has always worked very long hours and travelled throughtout the country, so to have no job to go to each day will be very difficult.

I am not sure what help , if any, I can give, or if I should just stay back.

Thanks for all the replies. Mignon

Mignon,

It is likely that he has ended his working life, fulltime at least. 

Goals

Well there is the rest of life to consider isn't there?

Money

His income is likely to stop dead because many do not have superannuation.  He might get a severance package, but that is likely to go fast on current bills.

He needs to meet with a Centrelink FIS officer (right title?) to find out what he is entitled to.

Similarly if he could become financially embarrassed it is better to talk with the financial institutions up-front so they can change length of loans and so on. 

What reductions must be made to outgoings and lifestyle should be made immediately.  Consider burning credit and shop customer cards and replace with debit card and a firm budget.

Social

Sounds like he is a bit of a loner, maybe get a cheap, small pop-top trailer to get away with on short trips.  He will meet others who have been shafted as well and they are doing fine.  Living tighter but scraping by.

If he will do it, the structure and companionship of lawn bowls is a good stand-by.

Does his work have a social club for ex-employees?  Probably not, few have that sensitivity and do not comprehend how such a cheap facility could (in my view) reduce the incidence of depression and worse.

Education

Do something, anything.  It all costs money somehow, but maybe the talk with the FIS officer will get him some reductions.  I will go against the usual 'expert' advice and say choose short courses for personal satisfaction and enjoyment.

Why waste money on courses proposed by sharks that never lead to the promised employment?

Role of friend

Encourage and facilitate without trying to make him into something he isn't.  A regular cup of tea and a chat are good, endless recriminations are not good.

Fact is that he is unlikely to choose a different way of reaching decisions and resolving problems in his new life than has been his lifelong habit.

If he has a good source of income apart from employment it is likely he has the interests to keep him going.