Speaking of living in a Vacuum.
*This* is modern, US (and now global) Corporate business. Every large business like this, only thinks about it's individual circumstances rather than the whole.
As such, they often turn to non-innovative cost cutting measures. The tried and true, cut wages, jobs, benefits, healthcare, pensions.
Is it really so hard for these institutions to come up with solutions that are more complex? It probably must be, seeing as they pay out the vast majority of earnings in buying stock, dividends, or rewarding a very few at the higher end of the company structure.
That must leave little money left over to actually invest in being a better business. Or possibly understand that employees are consumers. And firing a bunch of them has a net negative consequence to the economy.