"use that money to rehire and repay workers"

or give it to shareholders.

They only do that after tax, so there'll be more tax paid if they do that.

Shareholders only want money when a company can't reinvest it effectively.

Reinvesting it to generate more revenue now that prices are lower again is the obvious capitalist thing to do.

The companies aren't going to rehire workers out of charity. They do it because it makes them more money.

Everything is taxed including payroll.