Unless there is a robust social safety net, it doesn't take much to go from "fire everyone skilled" to serious effects on the most vulnerable: children, elderly

Unless there is a robust social safety net, it doesn't take much to go from "fire everyone skilled" to serious effects on the most vulnerable: children, elderly dependents, etc. often reaching far beyond the employee. Maybe the previous owner should've known better, but they made a conscious decision after evaluating the situation. Maybe the new owner should've acted more responsibly, but they made a conscious decision after evaluating the situation. Can you say the same for the people who are told they're fired? They made no conscious decision but are the ones who will have to pick up the slack (until such time that a new company arises, if ever). And, funnily enough, the people who are all for private ownership tend not to be the same people advocating for better social safety nets. If the company was in decline before the purchase, then the end effect could end up being the same. But willfully creating the situation is hardly fuzzy morally. There is almost no way to affect another person's life by what you choose to do with an apple.