I agree with you. Layoffs are part and parcel of capitalism. Soviet Union guaranteed every one a job. No layoffs ever! And they went bankrupt. Japan also tried lifetime employment. Japanese economy has shrunk more than most other industrial economies. Their stock market never recovered.
What the H#LL happened to the Japanese. Everyone thought they would own us by 1990. Then something went very wrong.
I read that it is their culture where firing is anathema.
That Borg like thinking is what helped to defeat them in WWII. I read that if the squadron leader got killed they didn’t know what to do whereas American fighters were very fiercely independent and innovative when attacking ships