Error, "Utility command failure: LOAD DATA" when altering a table to lower the column size (4231960)

Error, "Utility command failure: LOAD DATA" when altering a table to lower the column size

When altering a DB2 table in Toad to change a column size of a column to a lower number, say from 75 to 50, Toad generates a script utilizing the Unload tool. However, Toad generates the script so that it is unloading the data with the 75 byte column, then alter the table to 50 bytes and then loading same 75 byte data to the altered table causing a "Utility command failure: LOAD DATA"

Error:
Utility command failure: LOAD DATA   INDDN TOAD2   RESUME YE...
Return code = 319488

NOTE: In the Toad options, the option "Use commands/utilities" for the Preserve Data Method is selected for this scenario.