We're all making assumptions here, but let's assume they had legitimate business reasons for the layoffs. What you suggest is that they make less optimal decisions for the sake of optics.
In a free-market economy, the companies that make less optimal decisions will have their lunch eaten by those that don't.
When the downfall of some of these companies takes more than a life time, who gives a hoot?
Lots and lots of companies are starting to be too big to (fully) fail.
And the bill isn't delayed by a lifetime either.
In a race to the bottom, concern for others is a liability. Ugh.
But was any of that state 'power'? Or state weakness?
And that's one of the reasons we don't have free market economies in general; because they are extremely harmful to society as a whole.
China survived communism because it implemented free-market reforms (while retaining centralized control in the political structure).
I'd say generally, the free market is what makes economies work.
Edit: minor rewording
And that's the key issue. Positive sum (along with "first, do no harm") behavior is what makes societies healthy and prosperous. Laissez faire free market capitalism rewards extractive actions over positive sum actions with predictable catastrophic consequences.
You mean like firing the union bargaining team or laying off half your workforce?