If employees wanted to be kept on even in a downturn, they should have negotiated for it, but I suspect the price they would have had to pay for that would make the entire prospect unattractive.
You just want to eat your cake, and have it afterwards too.
Companies like Intel are facing new realities in over hiring as well (not to mention overextending on new fabs)...apparently they preferred not to have layoffs but instead cut salaries, bonuses and 401k matching. Personally I would prefer to fire the bottom 5% than risk the top 10% leaving because of a short sighted cash flow play.
If the “terrible thing” you’re referring to is paying someone according to a contract signed then, yes, it’s an excuse for why they had to do it.
That’s literally how contracts work.
All it changes is the timing of when the action worthy of condemnation occurred.
Not paying him and getting sued for it would save about 50 jobs temporarily. Not "thousands"...