If you fire when others are hiring. You will be seen as in trouble and sentiment will be negative towards you risking stock price, investment and loss of key pe

If you fire when others are hiring. You will be seen as in trouble and sentiment will be negative towards you risking stock price, investment and loss of key persons you did not want to lose. If you fire when everyone else is firing it is just part of the meta cycle and it is business as usual. Overhiring is natural as a combined consequence of broad panning for best hires, preemptive competition squeezing and empire building relying on fresh young unthreathening meat.