Middle management and some senior management will get canned, too.

People who serve no purpose during a downturn will go. Those that do won't. All to protect the investors, who are the owners.

Businesses aren't charities. They're set up to provide a return to the owners who provide the capital for the companies to operate. It's a symbiotic relationship. Take away the incentive for capital to invest and guess what: companies will go away, and so will jobs.