And this is with great pay and perks. I can't imagine how are traditional companies were hiring tech people.
How do you know the pay was great? Because you were offering twice what existing employees make, as one does?
And as far as "great perks", does that mean healthcare with almost no out-of-pocket costs and a leave policy that is attractive to people who want to have a family, or does it mean a foosball table and free k-cups?
No out-of-pocket healthcare costs actually. 14wk parental leave for both parents, unlimited sick days, 20 days PTO, something like 15 holidays etc. Not a scam.
And during the pandemic certainly some of the new talent showing up was good, things changed and people stuck in jobs they were actually "too good for" moved on.
I wouldn't assume it was "filling quotas" - it was filling positions and the positions existed for some reason, they were making a lot of money and there was probably more work to do!
The number of people "under" you is the dick measuring tape.
You hire ahead of growth, so you need to overcorrect when contraction occurs so it makes sense that if revenues are now shrinking so are the staffing levels.. it kinda feels like these explanations are projecting some weird politics on to very basic business logic.