The "we over hired" line is mostly made up. Many of these companies did not substantially increase their head count. This has more to do with improving P&L numbers to get their stock up, since most companies' revenue is tanking currently.

10% is about the number you can layoff without causing a route.

Never let a good crisis go to waste. Everyone is seizing on the opportunity to clean house and cut costs while the macro narrative is bearish. Investors and shareholders are demanding it. The days of cheap money are coming to a close so just growing revenue is not enough, now these companies need to show profit.

Could be a harbinger of whats to come. Reminds me of this Sequoia graphic.

https://twitter.com/PanchalBrinda/status/852947043576426500/....

No Collusion! But if I was hiring a lot to keep people from joining my competitors, I’d also pay attention to competitors’ layoffs and take the opportunity to soften the labor market.