I'm no expert, so take this with a grain of salt.

I'm guessing the rate of profit has sunken so low that, paradoxically enough, having employees is too much of a cost.

It's impossible to scale down operations. There is no more fat to trim. No other costs left to cut, except salaries and livelihoods.

If it means the capitalists can squeeze out just a few more pennies in profit, they will gladly saw off the branch they sit on.

There is no future beyond the next quarter. No no considerations, no planning, no self preservation. Only profits.