When money was "free or cheap" (low interests) and plentiful I believe many of these large tech firms added head count as a competitive strategy: "If they're be

When money was "free or cheap" (low interests) and plentiful I believe many of these large tech firms added head count as a competitive strategy: "If they're behind our desk then they're not behind a competitor's!" Now that interest rates are going up and talk of tighter times are in the mix, "waste" reduction is the new and upcoming wind that these and all firms are adjusting their sails to. Additionally, keeping rumors of mass layoffs can slow and paralyze smaller firms that are looking to hire because many may be holding off longer to actually hire current candidates in hopes of, and counting on, many many more potential applicants in the near future. Plus with the influx of developers they may be hoping for a buyers (employers) market with regards to compensation in the next few months.