I'm skeptical that layoffs are the real reason behind this, since it seems like a pretty ineffective way to trim headcount. Even if this results in an additional 10%[0] of employees getting "partially meets" where they would have previously gotten "meets," that'll only generate what, 2% additional attrition per year? I know "tech layoffs" generates more clicks right now than "tech performance management," but to me the framing here just doesn't make a lot of sense.

[0] The article says they're going to be enforcing their "10% to 15% target" now, and presumably some people are already getting those ratings.