If an employee leaves Google, Google loses 1/140k = 0.0007% of its workforce, a negligible amount. If Google fires an employee, employee typically loses 100% of their income, which is non-negligible.
So, Google firing 12k employees means that twelve thousand people will lose 100% of their income, for the sake of... shareholder interests?
Many people see this situation as morally not-okay.
The issue appears to be a little more complicated though. There is no clear reason to do any of it beyond 'signalling' to the market that executives are trying to rein in cost in anticipation of what now appears to be almost inevitable recession ( partially because of signalling just like the one from Google ). It is a vicious cycle.
I am not upset, but I am not yet personally affected. I also have been saying for a while that low rate encourages unhealthy habits ( including in VC realm ).
I guess my beef is that the entire layoff is.. not really necessary?