> Companies lay off people because they can, simple as that. If some divisions or individual employees in a company are not making meaningful impact on the bot

> Companies lay off people because they can, simple as that. If some divisions or individual employees in a company are not making meaningful impact on the bottom line and are not long-term strategic for future profits, then it makes sense to let them go. Just because these are hugely profitable companies, doesn't mean you should be spending money on things that will not lead to you generating additional funds. That is like keeping real-estate rented but not filling it with people -- it is wasted resources, whether it is humans or real-estate. These companies over-hired or were sloppy in terms of their spending and that has changed in the new environment.