*puts on his economist hat (hey, I paid for that education, I will use it damn it!)*
First off, workers do not directly produce profit. The aggregate output of the workforce (in a goods industry) or the cost of service set by the business (in a service industry) produces profit (less labor cost and capital, of course).
Further, even from a purely microeconomic standpoint the idea that minimum wage equals unemployment is not entirely accurate. If the price floor is below the optimum rate (after all, labor is a market as well), then it has little effect on the rate of employment, as employers would be optimizing their profit at a level above minimum wage. If the price floor is above the market optimum, then there will be unemployment due to a demand shortage, but this is not a direct linear relationship.
From a purely economic standpoint, 'morality' doesn't factor. As he who dons boys puts it, [a business] is in business to make money. Therefore, a well-run business will attempt to optimize for highest profitability and maximize its efficiency in skill level of labor.
Quite often, the owner of a business will not have the same skill set as a specialist in another area, so if they take up more hours, those hours will produce less product than the same hours spent by a specialist. Cutting benefits reduces the attractiveness of the employer, thus limiting their potential talent pool and risking attrition and turnover. Reducing hours of operation does reduce expenses, but also reduces the window for earning revenue. If done imprudently, this results in a death spiral where the business slowly 'saves' its way into insolvency.
Don, don't talk out your ass, especially about things you know nothing about.
