Profits = revenues minus expenses. Companies naturally seek to increase profits. They can use various means to increase revenues or cut expenses. It looks like, for whatever reason, they could increase profits, or decrease losses, by letting go some of their employees. In other words, the contribution of those employees to the firm was not worth their pay. I don’t see a problem with that.
I’m sure they did not enjoy laying off people, but their job is to satisfy their customers and their stockholders, not be a charity.
