Loyalty to Company, Loyalty to Employees

I work at a company which has a history of capricious-seeming firings / layoffs / terminations. Recently, an entire business unit was closed down without warning; where the board demanded "drastic" action and a single executive determined what that would mean. Multiple highly valued people who straddled the line between that business unit and the rest of the company have quit because of the new roles they were given. Morale has fallen across the company, and deadlines have been slipping.

Our executive castigated a large group, complaining that we aren't so dedicated to the company as to skip our December vacations just to meet arbitrarily-chosen deadlines. Which makes me wonder. The company is clearly not dedicated to its people. Why should we be dedicated to the company? That's a rhetorical question, and what I really wonder is, how can we get through to this executive before he chases away the few remaining skilled employees?