Asking honestly, not sarcastic (which I'll admit is new for me):
What's worse, laying people off and giving them a lump severance, or paying people during this time but taking stock in your company and not letting them come back once this blows over? For me I'd say the latter as it gives them time to put their resumes together and look for work while they're stuck at home.
All companies aren't going to survive this thing, and the ones that do will see a significant reduction in workforce. It fucking sucks, but we're in a recession now, the market is in a free fall, and companies are going to be losing money for months. People with jobs that are redundant, built around things like sales or services are really worried right now, rightfully so. Which is why I think laying people off now is the right move, even if it completely sucks.