My company did this as well (global but not a household name in a niche industry). We've recently started trying to re-hire folks we let go, most of whom make

My company did this as well (global but not a household name in a niche industry). We've recently started trying to re-hire folks we let go, most of whom make much bigger paychecks at other companies now. Productivity has plummeted. But we saved a lot on payroll for a few months.