What's so frustrating this time around is that almost all of the layoffs by Big Tech are being done on what appears to be entirely speculation with no concrete

What's so frustrating this time around is that almost all of the layoffs by Big Tech are being done on what appears to be entirely speculation with no concrete financial data to support their business decisions. Google, Amazon, Salesforce, etc. all have reported very healthy quarterly earnings and year-end results. Yet their actions are those of failing companies operating in the red for multiple quarters. Every company is giving the same excuses --ahem, I mean reasons-- ("overhiring", "economic downturn"), laying off the same amount of people, and making their announcements within days of each other. Have we ever seen such an industry-coordinated event like this? Especially with no public data supporting their actions? The real reasons many believe for these layoffs amount to taking back the power & control that employees gained in 2020 until early 2022: 1. Salary correction: Compensation boomed, with major tech companies offering new grads and junior engineers job offers high than employees 2 levels higher. Has there ever been a time that employee pay raised so quickly? 2. Corporate control: Leadership wanted everyone back in the office but employees collectively refused. Can you think of another time where companies had lost this much control over their own workforce? 3. Pay Wall St: The only public financial data to support layoffs of this kind are from the stock prices, which mostly plummeted. However, they did not plummet due to poor performance but rather due to the macroeconomic events out of their control. Even at their present day levels, they are still mostly above their pre-pandemic highs. And guess what? Almost every other company's stock price in most industries fell significantly as well. With the profits erased from the surged stock prices, layoffs are the quickest and easiest way to push up a company's value. I can only hope that employees continue to band together to know their worth and not settle for less.