I hard disagree. I think layoffs incredibly emotionally jarring and a huge act of disrespect to the employees. You could be years-in pending promotion and given the boot with not even a word of justification (happens more often than you might think). And even though it's just 1% the not-knowing factor means it psychologically affects everyone.

It's important to name-and-shame companies that can't be bothered to let go of people through legitimate channels of performance reviews, PIPs, allowing transfers, etc. Legitimizing overhire overfire is a dangerous road.