I'm not quibbling with that. I guess I'm questioning whether laying off thousands of people is the best reaction, as opposed to redirecting their efforts.
Pretty much this. Nokia had it's record year of profits the year after the iPhone launched even though the writing was already on the wall. It's easy to go from winner to looser in a snap with no way to turn back and hiring even more people won't help if the ship is heading towards the iceberg with full steam ahead.