Not sure I buy this thesis of layoffs just as imitation behavior. There's been a pretty incredible increase in headcount at many tech companies over the last th

Not sure I buy this thesis of layoffs just as imitation behavior. There's been a pretty incredible increase in headcount at many tech companies over the last three years. Facebook in 2019 had 44k employees, 71k in 2022. Google went from 118k to 160k over the same timespan, and I don't really see for what reason. If anything I'd say the agressive hiring was the herd behavior, the layoffs seem more like a justified course correction. Tech companies are always crazy paranoid about slurping up talent, I don't think they're too keen on paying severance for people they just hired.