I'm a bit unsure how to interpret these layoffs. Are they a consequence of recession? Or are they a consequence of recent anti-AdTech GDPR rulings? I'm referri

I'm a bit unsure how to interpret these layoffs. Are they a consequence of recession? Or are they a consequence of recent anti-AdTech GDPR rulings? I'm referring to the recent fine applied to Facebook. The ruling is long, but TL;DR would be as follows: It will become impossible to pay with privacy in the EU. My crystal ball is as good as yours, but I guess this will significantly squeeze AdTech. I wouldn't be surprised if AdTech revenue, valuation and salaries drops to whatever "good" IT companies make these days.