CIBC Cuts 900 Jobs Because Of Enron Losses

What is wrong with this picture? Because some high level person errors in judgement, 900 people have to take the fall for him/her? It's not like they haven't made any money in the past. Last year the CIBC profited $2.09 BILLION dollars. With the Enron fiasco CIBC says they "lost" $32 million dollars. So really its not like they lost money. they only didn't make as much profit. Its sad when a multibillion dollar entity doesn't make as much money as last year they have to cut people. I guess its the way the world works where the shareholder is more important than the people helping to make the shareholder rich. Capitalism at its worst.