Especially overt the last two (three now?) years, it's become pretty apparent many software jobs are superfluous, even those that are ostensibly "skilled" or "difficult."
I do wonder what the actual "needed" number of technical staff these companies would have in a perfectly "efficient" environment. Let's hope we don't have to find out.
That didn't happen and instead every other tech CEO started to wonder about the amount of fat in their org.
Worse, it continues to trend downward.
Most sane tech CEOs would prefer to keep their upward trend and $5+ billion revenue rather than saving $1 billion to lose $2.5 billion and invert their slope.
Also, most layoffs don’t cause huge cuts to advertising spend on their platform because of personal spite or political reasons. The product for all intents and purposes as an advertiser is the exact same.