While I don't doubt that employers would be happy to see salaries drop, I don't think they are as "orchestrated" as you suggest. This looks, so far, like a com

While I don't doubt that employers would be happy to see salaries drop, I don't think they are as "orchestrated" as you suggest. This looks, so far, like a completely ordinary wave of 5-10% cuts which companies like to do every few years, as a legally safer way to get rid of people they regret hiring. You don't have to have legally justifiable "cause", or at least it's way easier, if it's all part of a general layoff. Plus, by paying some amount of severance, you get the person to sign a document saying they won't sue. Not saying they're not capable of the kind of behavior you're suggesting, just that it's not really all that unusual (thus far), it happens every few years, and so it isn't necessarily "orchestrated", just normal reaction to a perceived economic slowdown (especially if you over-hired in the couple years previous).