The current situation is the furthest from being convenient in regards to layoffs. No company wants to be seen as heartless during a truly global tragedy.

Counter-point: no observer would consider an employer heartless for laying off people during an unprecedented economic downturn.

Do you consider restaurants heartless for laying off staff? Cruise lines? Hotels? Entertainment businesses?

It's a tough decision, but failing to make it could be the difference between laying off a few people and laying off everyone because the company goes bankrupt. The key is to do this in a respectful manner so the bridge isn't burned.