content: Yes they do need knowledgeable and up to date employees and its not really a problem to get rid of some old codger that only writes / uses older tools when when newer standards and tools can do the job in a more reliable, efficient, or productive way. They don't automatically get those by hiring young people with no knowledge, experience, or ability to do what the older employer used to do even if they hire someone as a direct replacement.  IBM killed off their server business by staff layoffs, they killed off most of their materials and computer science research divisions at the same time which is why they eventually sold off their silicon fabrication and pretty much let the PowerPC platform drop off the face of the earth when it used to be inside virtually every car, they killed off their desktop business, killed their laptop and workstation brands until Lenovo got it all for a steal. There is a point where cutting costs doesn't actually improve the health of the business it just limits themselves because they just fired a bunch of knowledgeable up to date employees so some rich greedy prick can live off the profits as the entire business declines. You can only trim the fat so often before you just start cutting into the muscle and bones of the company.