At least where I used to work, older engineers were kept on payroll by working only 3-4 days a week. Some of them also got lower title. I'd imagine the title

At least where I used to work, older engineers were kept on payroll by working only 3-4 days a week. Some of them also got lower title. I'd imagine the title 'adjustment' happened when there was a round of layoffs and some were offered to stay on conditionally.