It does, but temporarily. If layoffs caused terrible, permanent, irreversible, core damage to a company, then companies would stop doing them. But they don't. I

It does, but temporarily. If layoffs caused terrible, permanent, irreversible, core damage to a company, then companies would stop doing them. But they don't. It's not new, it's part of the up and down cycles of markets. If we don't like layoffs, then we should also not like crazy hiring sprees either because of their recklessness and waste.