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In 1976 the Lucas Aerospace Company was faced with the prospect of making up to 20% of its 18,000 workers redundant. Lucas was a big conglomerate that had just come into existence, partly with the support of the 1974-79 Labour government’s industrial policy. They wanted to create ‘national champions’ and thought ‘big is beautiful.’ Not if you’re going to lose your job as a result, it isn’t!