How to handle career demotion as 40-year old Software Engineer?
I am ~40 year-old Software architect and tech lead who is working for a big old tech company (think Intel or Cisco). My division is not doing great. And it will be shut down soon. Everyone knows that and is preparing for the same. I decided to venture out and interview at some bigger companies (think Google and Facebook) and some smaller ones (think Uber and Pinterest). I received offers from most of them, except I would be going in as primarily, a Staff engineer or similar. I am really not excited about taking such a career demotion. Just to be clear, money is not a concern for me. I can take an early retirement but I don't want to. I can sit at home and work on open source projects but I want to work on real business problems. I considered the path of becoming a consultant or starting a consultancy firm but it feels like a demotion as well.
Did I miss something which I should be looking for? Both Cisco and Intel are going through huge restructuring, what do 40-50 year old laid off engineers at these companies do?