I don't know what "that" refers to, but I was at Nokia for a long time while they did 5,10,15% layoffs and it did destroy the morale, people started running for

I don't know what "that" refers to, but I was at Nokia for a long time while they did 5,10,15% layoffs and it did destroy the morale, people started running for the hills as soon as they could. AirBNB did a 25% one-off layoff and is now doing fine. I don't know of any 70% layoffs but I tend to agree that cutting once and hard is the best approach, given what I experienced with paper-cut layoffs.