Looking at the Numbers -- Dickeson

Does this information suggest that the lower three quarters of those reporting companies must "downsize"—eliminate capacity—in order to join their happy colleagues at a comfortable EBITDA level?

What does that nasty word "downsizing" mean? It means mostly laying off people, doesn't it? If we interpret the numbers correctly, there must be closures, bankruptcies, mergers, acquisitions and skilled people out of work. These are dreadful, unacceptable consequences. But is this what's happening to us? Are we choking on our excess capacity?