Look, when it is no longer profitable to make buggy whips, no amount of creative management techniques will save the buggy whip manufacturer.
And nobody is disputing that. But go down the list of companies that laid off the most people over the last few years and none of them are making buggy whips or any other obsolete technology. They're making cars, selling cell phone service, financial institutions or are part of the service industry. Companies like HP or IBM or Merck didn't lay off people because they were losing money. They did it because they weren't making enough.