CEOs and companies can establish their own priorities. That may be profit or revenue, but it could be any number of other things like deliberately choosing "green" options even though it increases their costs and reduces their profit margin. Or even paying talent what they deserve. That isn't (by most standards) "best for the company", but it's the choice of those running the company, and in the long run may prove out to be the better choice. Quarterly thinking kills companies, and they deserve it for their short-sightedness.
And cutting wages and forcing people to stay, that might save money, but it's hardly "best" for the company. I've left two jobs because management thought that was a good idea. I was poor (a low, 4-digit bank balance poor) the first time, and I have no regrets. I'd do it again if put in the same position. Screw incompetent management.