NO LAYOFF PAYOFF

The 3,000 Cleveland-area employees of Lincoln Electric never worry about keeping their jobs. That's because full-time employees who have worked at least three years for the $1 billion maker of arc-welding equipment are guaranteed employment. Through good times and bad, the firm will not mess with its 50-year no-layoff policy — a factor contributing to eight straight years of robust earnings. It also has intrigued visiting Fortune 500 executives and inspired a book and an ongoing