Because, we are in a recession and the only reason the stock market went as high as it did was due to corporations buying their own stock at any price, so execs could get bonuses, which were tied to stock price, not actual company performance.
This is why employees are disregarded and no longer valuable, because all that matters is the almighty stock price, which has NOTHING to do with realty, profits, or revenues, and everything to do with corporations spending every dime they have and can borrow on their own shares.
And now that most corporations are completely broke and have borrowed all they can to juice their stock price, the end game is here. Yes, that is what is going on, while you were asleep watching American Idol and Reality TV shows, so this came as a shock to you.
It didn't have to be, as many of us were not fast asleep and were paying attention, so you can look in the mirror for someone to blame, and think back to all the time you wasted sitting in front of the idiot box thinking all was well when it wasn't.