The code is the company's, not the hypothetical emloyee's, not the hypothetical manager's. The hypothetical employee is reading the writing on the wall, and should be searching for other means of providing for him/herself and family. It is much easier for the hypothetical employee to leave on their own terms than to be scrambling to find a means of support once the cuts are made.

Additionally, the hypothetical employee will need to live with their own conscience, no matter how quickly the cuts come.