Agreed; there's no substance to this, and bringing up how common overhiring and layoffs have been points to these CEOs being average performers, not bottom 6%.

Agreed; there's no substance to this, and bringing up how common overhiring and layoffs have been points to these CEOs being average performers, not bottom 6%. The more interesting story would have been where are the CEOs who saw this coming, but even that's just hindsight bias.