Failing to live up to a business promise runs afoul of promissory estoppel: https://www.investopedia.com/terms/p/promissory_estoppel.asp

If this claim was in writing then it's legally binding in most U.S. states. Technically it's legally binding even if it's not written but in those cases it's harder to prove.

Right? When management demonstrates their inability to plan for repercussions, how am I to believe a pinky promise covering the next three years?

> And people believed them?!

Probably because they could sue them for not keeping their word.

It was more than 3 years ago, but as far as I know, they did honor the agreement. Some people took early retirement packages closer to the end of that three-year period and they got the same deal.