Why so many people are made jobless in U.S.because of recession?

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I have read that 1.9 million people lost jobs during this year in U.S.because os recession in U.S.economy.I understand that even companies that are in good financial position are also reduing the size of their work force.Do you think it is justified? If at all they want to be overcautious and want to cut their expenditure,I think they can reduce the salary of their company's entire staff by certain percentage. Is it not better than sending some selected people home?Let me know your views.