The root of the evil comes down to corporate culture. Does the business exist primarily to make the shareholders money or does it exist to support and hopefully enrich those who contribute to its success? Most operate primarily under the first model. In a lot of roles people are easily replaced and the business is more profitable if it allows churn in those roles than if it supports the current position holder.
The first sign of death is to stop growing. That hold true for us and corporations that don't pay a decent dividend. Even a hint that the next quarter will be down sends the stocks to the basement.