To my mind employees are the most valuable INTANGIBLE CAPITAL ASSET of a company simply called the GOODWILL.
Now, the bean's manual says…. "The GOODWILL represents the potential of a business to earn above a normal rate of return. GOODWILL arises from such factors as customer confidence, reputation for dependability efficiency and internal competencies, quality of goods"
Unfortunately in practice whenever the fire bursts trough the roof, this asset is the first one to be disposed by a caring and thoughtful management. Why? Because it's the effortless and easy way out of solving the problem whenever "the unthinkable" strikes.
But I would say to those managers… "While it may be easy and comfortable to fire people, I would challenge you to publicly justify - if you can - your salaries, options, incentives, benefits, perks, etc, etc, etc …" And at the end of the day try to ask your selves how much of a goodwill have you brought to the company's table.