Section Four
Of course, it is sometimes more desirable to focus on
eliminating the poorer performers, which necessitates another
approach. From the standpoint of employee welfare, those
opting for early retirement will probably be better prepared
from a financial standpoint. Because some retirees indicate that
they would like to work to maintain contact and earn extra
money, the company should also consider providing part-time
employment. Finally, the early retiree’s contributions to the
company should be recognized with a demonstration of the
company’s appreciation. Although performance may have
declined at some point, an employee’s many years of service to
the company merit recognition, and the conclusion of a long
career should not carry the stigma of a forced retirement.^53
Retreat from Employment Security Policies
From the late 1980s to the mid-1990s, structural changes in the
economy, increases in productivity resulting from technology,
computerization, and intense global competition led scores of
companies to abandon employment security policies and
downsize their workforces.^54 Although a recession also
accounted for some layoffs, many were the result of permanent
structural changes as companies were able to accomplish the
same or more work with fewer employees. Many companies
that had maintained no-layoff policies in the past reverted to
layoffs.^55 For example, IBM, which had long maintained a