That was a private company, btw. I think large companies have problems with personel like that, whether public or private. They have problems, in that their understanding of the labour market has stayed in the 1930's. Anyway I think the same thing that happened with me happened to your friend in NASA.
Sucks that they did that to you. Utter garbage.... but yeah, waste is what big orgs do.
... though I might change my mind if I'm 60 and one needs my COBOL SKILL$$ :P