It looks like they've had quite a few large scale rounds of layoffs: 15% in 2020 (https://www.businessinsider.com/stack-overflow-reduces-workforce-furloughs-lay

It looks like they've had quite a few large scale rounds of layoffs: 15% in 2020 (https://www.businessinsider.com/stack-overflow-reduces-workforce-furloughs-layoffs-2020-5 https://www.businessinsider.com/stack-overflow-reduces-workf...), 10% in March this year (https://stackoverflow.blog/2023/05/10/a-message-from-prashanth-chandrasekar-ceo-stack-overflow/ https://stackoverflow.blog/2023/05/10/a-message-from-prashan...) and now another 28%. That seems like far more than other companies that their employees could choose to work at in total. I imagine that people are now going to demand a premium to work there - they might only be able to attract the kind of people that want to treat it like contract work and expect a premium for insecure work to cover their expenses while they look for the next contract. I imagine this will put the company at a significant disadvantage compared to where it was before. Finding any marginally profitable use for their surplus employees (even if it is building a different product or even taking on some contracting) while they wait for the workforce to shrink through attrition would probably have been better for their company long term.