When all of these companies act together to influence the labor market, they can subsequently cut long-term costs due to the natural suppression it effects on wages. I'm seeing very significant reductions.

typically a company also refocuses where they spend effort or make changes how they operate and that leaves a lot of people without meaningful work that matters. not only will those people be demoralized, but those around them too, together with continue collaboration and communication complexity. waiting for that to organically resolve it self would be terrible leadership.