Early outs save the company money by saving costs for some of the most expensive pilots flying (max seniority / max benefits / max healthcare costs etc).

When you talk about doing training events for 60 year olds, not that many are going to be bumped to have to learn a potentially whole new airplane or plane type that they may not actually fly for very long. The young guys like moving around a ton, some older pilots have families, grandkids etc, may not want to commute or relocate to a new base.

Early out is a win win option - it's going to happen - why wouldn't it? Seriously what is the argument against it?

Keep it voluntary - it doesn't have to be a great option, and pilots don't have to take it if the option isn't good.