A neighbor was telling us their son who worked at Bob Evans for almost 30 years was laid off in favor of some younger people, just before he reached retirement. Apparently they have done this to others, laying off people before they could retire. She’ll have nothing to do with Bob Evans.
Yes, that is one business model.
That seems kind of rotten if this guy was expecting a pension during all those decades. My father had a pension through General Motors in Michigan, starting in the 1980’s. 20 years later, they were almost bankrupt from such pensions. I think many later retirees had to settle for a lump sum and that was all. I don’t know if how much notice they got that their pension would not be coming as expected. A lot of untold stories like what you described.
The Bob Evans restaurant chain was sold several years ago and is not operated by the Evans family.
https://en.wikipedia.org/wiki/Bob_Evans_Restaurants