You actually can cut your way to profits. It is that way of thinking (the inverse, spend your way to profits) that got us in the predicament we are in! Whomever said that is inexperienced in financial logic.
When you see the holistic picture, you can then see where the excess cuts were needed and why. We are collectively responsible for our demise. Likewise, we will need to be so for our success.
The competition has been wise, in that they know in order to be profitable, you must push the top line while being bottom line conscious. The latter is where we have failed...miserably.
Sales will come back. The company has to make the best of that opportunity. Stock holders expect return on investment. The only way to make that happen is to keep more money in our pockets.
Don't be mad when it's your stop on the train ride, just fet off at your stop and wish it farewell, for it's occupants will reach their destination.