Interesting especially the part about providing medical insurance up to 65, wonder if that is part of package. Article seems to imply that these voluntary layoffs hurt companies more than they help, I agree with that.
https://www.marketwatch.com/amp/story/guid/5A9FF6AA-029C-11E7-918D-62B4A59FE2AC
The more I think about it this voluntary reduction could be actually a good thing. It could provide some openings to help the company prevent from firing people who need a job due to a required head count. In addition a reorganization may be required as well, although painful it’s unrealistic to expect any company not operate without reorganization and cut backs these days.