Retracting academic papers is a fundamental tool of quality control, but it may have far-reaching consequences for retracted authors and their careers. Previous studies have highlighted the adverse effects of retractions on citation counts and coauthors' citations; however, the broader impacts beyond these have not been fully explored. We address this gap leveraging Retraction Watch, the most extensive data set on retractions and link it to Microsoft Academic Graph and Altmetric. Retracted authors, particularly those with less experience, often leave scientific publishing in the aftermath of retraction, especially if their retractions attract widespread attention. However, retracted authors who remain active in publishing maintain and establish more collaborations compared to their similar non-retracted counterparts. Nevertheless, retracted authors generally retain less senior and less productive coauthors, but gain more impactful coauthors post-retraction. Our findings suggest that retractions may impose a disproportionate impact on early-career authors.