I guess if you run a warehouse that's true, but Facebook is a tech company. How many thousands of hours were spent recruiting, hiring, onboarding, and training those employees? How much institutional knowledge left with them? How many decisions took longer to make because managers were focused on picking who got laid off instead of focusing on the work? How many managers became hyper-cautious with their planning because they don't know how many employees they will have? How many hours were lost to employees worrying about job security and prospecting for a new job instead of worrying about solving business problems? How many projects got started because there were ample resources that now have to be shut down abruptly?

Large scale hiring and firing in technology is incredibly expensive and not to be taken lightly. Facebook has wasted a huge amount of time, focus, and energy on this and their leadership should absolutely be accountable to shareholders.