goes into that kind of "reorganization".
Bankruptcy does not mean that the company will go out of business; it means that it's going to have to restructure, and a lot of that is the restructuring of the debt, with many people holding the debt probably coming out in the losing end.
Now, there is such a thing as owners of a company, with companies either being owned publicly or privately. When a company has to restructure, many of the losers will be the shareholders, and a lot of them will lose a lot more than the employees who have to be let go.
You sound like you get your anti-corporation talking points from a six year old who simply knows the words greed and evil and theft, but with no real context or understanding of the subjects or the issues.
If I invested in a company, and the company has to liquidate, should the proceeds of the company go to me and other investors, or to the employees, who were very likely not invested in the company? If a system ever existed where the employees are entitled to receive more than the investors of a company, then that economy will never get investors to risk their money in any company.
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