I agree with you and don’t think they are in bad positions at all!! Also, I think companies need to fire deadweight at some point or else the company will collapse - and crises are the “less bad” time to fire the deadweight you want to, as compared to good times.

Note: I’m not supporting this and I’m not saying I think this is a good move; I’m just observing there may be this more subtle logic at work, in the minds of management making these decisions.