"Layoffs would be necessary, so the wave of hiring that had brought in new personnel only weeks before was reversed." I hope after this that nobody was serious

"Layoffs would be necessary, so the wave of hiring that had brought in new personnel only weeks before was reversed." I hope after this that nobody was seriously considering continuing with the company. It's this kind of gross stupidity that is fatal. Sure, some people might keep their job while they look for another, but anyone that didn't start looking immediately was crazy.