They get paid oodles to be in a high risk job where they could get canned...Most of them never think about saving people's jobs or the ethics of laying off. So on one level yes. Sack Em---but in a truley moral society It really depends on the greed of the board and the mission of the organization and intentions of a CEO.
I mean if profits weren't spectacular to avoid layoffs I am all for that CEO or Board staying the course. They have values. The honor people.
But if you run lean--laying people off to show bigger profits-- then that's immoral because all employees are adversely affected and it hurts the company long term. it's all about greed and profit of a few, and frankly it hurts the stability of the community and even creates economic crisis nationally. It's not patriotic, and it will affect all areas of infrastructure if it is wide spread. I'm not just talking hurting those on welfare but also your roads, schools , police, fire departments, armies...all of it suffers.