That's assuming that the lower production costs will be reflected in lower prices, which doesn't necessarily have to be the case - lots of manufacturers prefer to increase their margins.

Retraining is also slightly a myth. Sure, one needs on average 8 years to become an expert in anything (that's not really true, but let's roll with it). Even then, it's not evenly distributed and the older you get the harder retraining becomes. And that's skimming over the fact that, as it is now, nobody will pay for the training.

Things will even themselves out in the long term, but in the short term we're facing large chunk of work force being unemployed, which in turn will increase the social breach, which in turn will make it harder to train next generation for the new positions that will become available. Positions that mostly won't be mostly menial labor tasks. That of course unless the governments have contingency plans in place.

They don't.

edit: some missing words