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Yea, but you're assuming that these captains of industry always need to sack people to save the sinking ship. That's not always the case, it is rarely the case.

It is true that there are good and well intended CEOs and business owners. I started out working for a small business owner who went broke and have to laid off people - it really really break his heart. I have also seen good executives who have to let a big chunk of his company go because the project is over.

So there are cases when certain cuts must be made.. but we all know companies does these for no other reason than merely to make more profit.

There are plenty of cases where older more senior employee are fired and younger graduate are brought in to replace them... all so that it save the company a few grands a year.

Plenty of cases where very profitable company firing people, ship jobs overseas to cheaper labour, then push to lower pay and less benefits to those they can't yet fire... all so that executives can get that bonus and shareholders their dividends.

Then there are cases of cutting on safety and quality... all in the calculus of chances of accidents, the costs of that accident or defect, and how much it would benefit the company until that happen.

For instance... GM decided to use some cheaper ignition switch, or a chip to it... saving maybe 20 cents per chip. They know it's defective and could cause death... but save the cash upfront, let the potenital victim sue and see where it goes.