it was fear of economically reasonable behaviour then.

A subjective estimation at best, when viewed in the long term.
Other than that when a corporate talks about loyalty, I make immediate plans to leave, on account of 1) they think I'm stupid, and 2) They are about to do me up the back.
In fact staff retention tip number 3, don't try and play that card, employers wiped their arse with it, the day they hung the Tolpuddle martyrs.