The actual truth is these companies were running in the regime of "we can afford to just throw manpower at projects". Everyone was just trying to gather up peo

The actual truth is these companies were running in the regime of "we can afford to just throw manpower at projects". Everyone was just trying to gather up people to fill roles. Playing conservative in this regard was looked down upon - "you can't predict what the economy is going to do, and what if the competition just ends up hiring more people and they end up winning big?" . Now its the exact opposite - "other companies are downsizing to conserve costs. If we keep people, this could come to bite us in the ass because those companies can be ahead financially".