That is just BS. In my company we have quite a few 50+ and it's nice to work with them. They add exactly what younger people can't.
Reality is: They need to squeeze every dollar as much as they can. If they could, they would never hire:
1. People with kids
2. Older than 33-35 (more often than not also 1)
3. Disabled
4. Often sick People (give me your history of sick leave, that kind of stuff)
5. Anything else I am missing?
Just freaking replaceable robots.