Here to Stay?

The lifetime employment system has been been a defining part of Japanese management for quite some time. It has been both praised and heavily critized. It has been around for a long time, but can it survive, even in todays' volatile and insecure corporate climate? Is lifetime employment a thing of the past, or has these recent turbulent times, in fact, caused it's traditional values, like loyalty and security, to become more timely than before?