Under new management: How do changes in managerial career patterns affect your career path?

Some 20 or 30 years ago, embarking on a managerial career was a safe and secure option. You could reasonably expect to join a company, work your way up the ladder, hit top management level and retire with a golden farewell as thanks for your loyalty. Not any more. As a result of the downsizing and restructuring of companies in the 1980s and 1990s, relationships between employer and employee are no longer so sturdy. These days very few can be totally confident their job is safe.