Its short term, bottom line thinking. If you force them out at reduced retirement wages, that saves pension money you can then bonus yourself with. You don't care that you are firing your most competent people, because they are just resource slots you put new, cheap college hires into. They arent as good, but whatever. You have 2000 of them. They are good enough, right? You can then bonus yourself with that salary savings as well.

The company will eat itself to death, but that will take years, and you'll have left to do the same to other companies, using your "success" at this one to prove you need an insane salary at the new one. Repeat, over and over.