What's the hiring like? About the same. Intel just laid of 18,000 workers, Dell just laid off 12,500. There'll probably be a ton more. Set up a small consulting gig and coach the new guys coming in. The best wisdom and knowledge fades away with the older generation, and it's a dang shame too.
There's probably new stuff where that might be useful. Drones maybe. Also these humanoid bots are being well funded, there's probably some work there.
Due to global politics, things are also shifting away from both China and the US and new factories are popping up in all kinds of semi-neutral countries. I expect these places might also be the kind you'd work on. There's a chip boom going on in SE Asia with Chinese companies using places like Malaysia as a proxy to sell to US. It may fit your semiconductor experience.
* Observe Invented Here Syndrome and avoid writing anything original. Threaten to quit if you have to.
* Don’t measure things. People have personal opinions that are worth dieing over. The last thing anybody wants is evidence to the contrary.
* Learn to love tools, but not tools you, or even anybody you know, write. A giant list of tools should line your resume like beer bottles at an exotic bar.
* Understand the ecosystem of the web. No, not the code or APIs, silly. Know the package managers, the frameworks, and build tools. Prove your manhood by demonstrating just how many of these you can use.
* If business requirements demand a solution far outside your favorite abstraction then just say it can’t be done. When they come back and claim it’s really simple and even offer to show you how it’s best to be offsite in business meetings.
* Don’t ever compromise your personal reputation just to get work done. Ethics are important and so they are best left to the corporate lawyers. What you must do is elaborate on the tools and conventions already available without performing that which deviates from such tools and conventions.
I did not fit in, so I got a government contractor job, fully remote, and could not be more happy.
So, yes, you can find work with that background. It may take longer than it takes someone with 5 years of experience, though...
It is like asking what the good lottery numbers are to play right now at 51.
All that changes at 50+ is your physical condition matters more. If you look like you can run circles physically around the hiring manager you will get extra points. If you look like you might die of a heart attack next week that will obviously count against you.
If I were in your shoes, I'd consider three options:
1. Take as long as you need to to find a job that resonates with you, regardless of pay. This is probably the most ideal option, as it's going to mean the most stability and least stress, but also given the market, probably harder to achieve.
2. Embrace semi-retirement and become a part-time consultant or contractor. This will let you have enough time to enjoy your 50s without being constantly sucked into work, but still have some discretionary income coming in and keep you mentally stimulated. The challenge here is finding clients, which is a time suck and not very fun.
3. My personal preference: bootstrap your own company! Be your own boss! The only thing you need to spend is your own time, at least at first, and as a recently retired person, you have plenty of that. You won't face age discrimination, you won't have to report to some middle manager kid on a power trip. You set your own rules, your own hours, and control your own destiny. Downside is that this can be a lot of work, and possibly very lonely, unless you can find some cofounders.
I'm aiming to be in your shoes in the next 5 years, so I've been thinking about this a lot. I wish you the best of luck!