Already open positions are being quietly withdrawn, people leaving are not backfilled, big projects are delayed or cancelled.
Then as customers start pulling back or failing themselves, layoffs begin. It's terrible for the people impacted and those left behind who are often called on to take up the slack.
My advice for anyone in the position of having to lay off staff: Be decent, help people move on, and do it early and do it all at once, not in uncertain "maybe things will turn around next quarter" waves which destroys trust.
Edit: otoh I've been a bit grumpy myself this week so who am I to judge. It wasn't a very good joke. I'll tell you the "youthful porpoise" one next time
No harm or shame in not knowing it--lucky 10,000 and all that--but taking a chance to learn over blaming others would be my choice.
Academically, yes you're right. Practically, they are the same. No one can afford to sit around and wait a year or two to get rehired after layoffs, if that ever happens; and anytime a RIF happens, the positions are usually refilled once finances are better.