Why would it be reasonable to expect that employment rates remain steady in cases where demand for labor fluctuates downwards? A CEO isn’t failing by implementing a layoff any more than they’re failing when they increase headcount, they’re simply responding to market conditions. The real problem is viewing employment as some sort of charity businesses grant to employees, or even worse, an entitlement that people should receive even when a business no longer needs them. Employment is driven by ordinary supply and demand, and when demand goes down, so does employment. This isn’t a failure of leadership.