It's also unfortunate (I am assuming) that the employees have much less of a stake collectively than other shareholders.
There's a good chance they would make more informed decisions if they were to fail or be successful based on those decisions.
For what it's worth, I think the employees would still make these demands, it would just be nice to be able to show that it was also the right business decision.
Also, I would bet that a review of this from a business point of view might make a moral stance moot. If that's the case, it seems like an easier way to avoid a minefield.