By memorandum dated November 17, 1992, the employer notified its employees, including claimant, that in an effort to reduce its workforce it was instituting for a limited time a voluntary early retirement program for eligible employees. The memorandum also advised that, in addition to the early retirement program, additional measures to reduce staff could be necessary, including layoffs. Fearing that he would be laid off, claimant accepted the early retirement option. The...
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