Amen. In my line of work I saw this a lot. Companies running incredibly inefficiently because there were no available resources to invest in efficiencies during the "fat" years, just work work work. Then when demand fell a bit, instead of making the free personnel work on streamlining things reducing costs by (let's say) 20%, they lay them off immediately to cut payroll by 1% (which is maybe a 0.3-0.5% overall cost reduction).