Layoffs in our industry are simply part of the long term game, part of a playbook that folks coming into it in the last decade or so probably haven't experienced. My eyes were opened in the dot-com crash - I saw too many extremely smart, hard-working, and accomplished developers get dropped and spend a year or more getting back into programming gigs.
It was such a joke, but I used to be of the belief that the card processors were so incredibly profitable, that they had to actually waste money to not be targeted by regulators too much (which monitored their profit levels to determine if they wanted to impose lower card fee rates). So these kinds of things were actually healthy for the business, along with insane travel and entertainment budgets - I used to routinely spend >$10,000 on plane flights back to HQ from Asia.