I note in UK you are not supposed to use redundancy for performance management, and immediately rehiring into "redundant" positions opens you up to legal action from the people made redundant.
People will argue any workers rights and protections at all make countries less competitive.
Honestly though? So be it. Corporations don't have a right to exploit people as they see fit and protecting the weaker party, the employee, is more important.
"We could have infinite growth and make way more money if only we could abuse you more"