These companies are using forward-looking metrics to make these types of decisions, it really isn't follow-the-leader. I don't have access to the data, but it'

These companies are using forward-looking metrics to make these types of decisions, it really isn't follow-the-leader. I don't have access to the data, but it's quite possible with interest rates rising, high inflation, and tightening monetary policy that they are seeing slowing growth/sales. Companies want to get out ahead of that, especially with the massive (and frankly absurd) hiring that these companies did over the last 2 years. I'm not buying that Microsoft laid of people because Google laid off people, and Spotify laid off people because Microsoft laid off people. Somewhat unfortunately, these public companies are expected to show constant revenue growth, and they will "trim the fat" at a moments notice.