Always thought about this myself. I've heard of companies doing the opposite. Instead of laying off, they hired more. Sure, you cut shot term cost by firing, b

Always thought about this myself. I've heard of companies doing the opposite. Instead of laying off, they hired more. Sure, you cut shot term cost by firing, but you also lose the human resources to develop any long term value. What of your product? If every of you competitor is laying off, and you decide to actually hire more and double down, you might be able to get the competitive advantage.