Management are considering a voluntary early retirement program to address the reduction in forecast business orders. In particular, management want to know if there are enough upcoming retirees to accomplish a cost savings of $1.1 million. Include in your submission the type of forecasting approach that is being used and nature of the forecast outcome.

Note: Giganets Voice of the Employee survey asks employees to identify their retirement preference, given the well-funded defined benefit pension plan is payable when an employee reaches their 65th birthday.