I do think it was management incompetence to lay off qualified staff for example over the Covid pandemic as it was totally clear back then that the pandemic wasn't going to last forever and that the people you were laying off were not going to sit at home twiddling their thumbs until you hired them back.
I’m sorry, but this is simply revisionist history at best. In 2020, absolutely
nothing was “totally clear” about the outlook of the pandemic. In March 2020, it was “totally clear” that things would be back to normal by mid-April (I was rescheduling March/April business trips for May that year). By summer, it was “totally clear” that travel might take half a decade or more to recover (Delta Airlines, for example, permanently retired two fleets that were still supposed to fly another 5-10 years). By the end of the year, it was “totally clear” that cities’ downtowns were dead and that nobody would ever work in an office again.
If the 2-3 year outlook back then was totally clear to you, then I can only assume you’re posting this from your multi-million dollar mansion or personal luxury yacht, because anyone with that kind of foresight in the height of the pandemic (and who acted on it) would be a multi-billionaire today.