Thread regarding ExxonMobil Corp. layoffs

From the NYer interview of Trader Joe's ex CEO/founder (sold to Aldi):
After he left Trader Joe’s, Coulombe spent a couple decades serving on corporate boards and helping clean up companies in distress. Many of these efforts were successful, and all of them yielded more business teachings for his memoir. He left the experiences with a piece of incontrovertible wisdom, one that is not self-aggrandizing or overly pious but stark in its simplicity and directness: “A deeply troubled company is always the fault of the CEO, the board of directors, and the controlling stockholders who appoint these worthies,” he writes. “It is never the fault of the frontline troops.”