This is a commonly overlooked point. Most of these companies doing layoffs will still have much larger employee counts than they did two years ago. Hiring in 2

This is a commonly overlooked point. Most of these companies doing layoffs will still have much larger employee counts than they did two years ago. Hiring in 2021 and 2022 was really out of control at many companies. There was a feeling that companies had to keep even the underperforming engineers earning $200K TC because it was so hard to hire replacements. That has changed, so it makes sense to start cutting the employees who were hired into roles they couldn’t handle. My company had layoffs late last year. It has only made things more efficient. We lost some good people, but there were too many people assigned to every project. Half of our time was spent dividing up work and coordinating across teams for things that should have been handled by a single team. There was just too much hiring in 2021 when money was cheap.