They can and will give some stock refreshers (to those that aren't laid off or marked low performing) but I doubt they will make up for the large drops that hap

They can and will give some stock refreshers (to those that aren't laid off or marked low performing) but I doubt they will make up for the large drops that happened this year, and the drops that are likely to keep happening over the next year. You have to do that when there is competition, but cross-industry reduction in demand and a want to actually shrink companies (attrition) for software developers means you don't have to do that to keep the number of people you want.