I get why public companies like google, meta or even confluent is doing layoffs when the stock price falls 50-75%, the employees are unhappy and the shareholder

I get why public companies like google, meta or even confluent is doing layoffs when the stock price falls 50-75%, the employees are unhappy and the shareholders are unhappy. Layoffs is a way to tell shareholders that the leadership is doing something to curb the costs and try to increase profit. But there are also pre-ipo private companies laying people off, that part I don't quite understand, since they have no shareholder pressure.