Don't know what area your friend is in but the chances of working again in general at that age is slim in the present jobs market. I would be a few years younger and short of a miracle have pretty much resigned myself to not getting a job again. Out of work 18 mths or so, benefit has run out, no Fas courses or anything like that available to suit unless wanted to do something like ECDL. I don't think in general employers are interested in experience and when the people interviewing are normally years younger I feel age is a disadvantage straight away. Had another interview last week, waste of time again, have only had half a dozen or so but sick and tired of them at this stage.
I understand your friend is afraid compulsory redundancies may be at a lower rate but they will have had the advantage of the salary until then and the structure and outlet that a job brings.