this makes the common mistake that there will always continue to be a company with resources for the workers, regardless of how it performs. The company as a concept exists as a going concern, _then_ it can support workers. If the company ceased to exist, the workers could continue to report to work and produce output, but they would be unhappy with the compensation.
Who's more important the workers or the company? I bet the answer to that question will align with people's views on the layoffs.