This is the classical example of what happens when you have to chase quarterly (and yearly) results.
They traded short term gains for long term losses. Which, most likely, will be some other leadership’s problem.
I asked him if they weren’t shooting themselves in the foot. He responded: “I can either fire everyone now or in a few years, what would you chose?”.
I’m glad I don’t have to take this kind of decision.
This is the entirety of the problem with modern capitalism, isn't it? There is no way to account for long term losses that stakeholders can put value on. Just look at what we've done to the environment.