I think it's much better for society for companies to overhire than underhire, especially when they can easily afford it.
There will always be steep corrections when they overhire driven by economic cycles or otherwise (and we're living through an otherwise).
That’s a bit perverse. In democracies, corporations ultimately exist to serve society, not shareholders.
I also think that counter points on the inhumanity of firms, misses that economies are an objective way to structure incentives to achieve subjective ends.
If you want more money to travel to other parts of the pyramid, or you want to disincentivize certain behavior, then economic incentives can be set up to achieve those goals.
Expecting firms to do charity is pointless. Expecting firms to optimize under constraints is not.