Can someone please answer this question in at least 100 words or more.

Does the social and human cost play a role in a business decision to reduce costs by laying off workers?
Thank you.

There is nothing wrong with it if the owners of the business choose to do so. Paying employees for reasons that do not add to the productivity of the business is essentially transferring money from the pockets of the owners to the pockets of the employees. Don't make the assumption that the employers can afford it. In recessionary periods they lose money, often a lot of it. Some lose everything they've worked for all their life. Others borrow to stay in business and take decades to pay it back.

Managers of businesses owe their loyalty to the owners of the business. They have no obligation to provide wages for social reasons any more than the employees are obligated to continue working when the company runs out of money to pay them.

You count the words. :-)