Gold watches went to people with three or four decades at one company.
A feature in The Philadelphia Tribune traced why the retirement gold watch faded. It said the watches went to long-serving employees, typically those with three or four decades at one company. The paper blamed shorter tenures (about five years on average), gold that rose from roughly $34 to $1,600 an ounce, and a weaker bond between employers and workers after mergers and closures.
The watch got expensive. The loyalty got cheaper.
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