Technology would get the same work out of fewer people. Wall Street applauded. CEO's received bonuses. Remaining workers often could not do the jobs of the terminated personnel who took their knowledge with them. Knowledge is a slippery, complex concept.
Information is a message sent to inform a receiver.
Few of us would confuse knowledge with data. Knowledge connotes intelligence, experience, insight, and expertise. We carry our knowledge in our minds, not on a message pad. As intangible as it is, knowledge has value and should be treated as an organizational asset. Buyers seek understanding about fairly complex matters, not just facts.