Beagle; you are confusing a time of honour with the twenty-first century.
A friend left work a few weeks ago to attend a doctors appointment. When he returned the workplace was locked. A few (former) workmates has taken to the local pub to debrief the unforseen demise of the company. No redundancy money whatsoever, and middle aged+ workforce have little hope of re-employment. A good time to raise the retirement age.