I suspect there is still a good amount of shedding the defensive-hiring going on from the pre-AI, low interest, high growth inflation front-loading era. Now all that is crumbling, interest is rising, growth is contracting due to several factors, and AI is clearly crushing manpower demands. What do you do under these new circumstances with an excess of staff you largely hired as capacity and defensively?

It may be a bit controversial, but I believe the male tectonic shifts going in right now under our feet are also driving much of the shift regarding “immigration” because billionaires don’t need immigrants as much anymore and they’re also causing systemic problems in things like the housing market. In fact from what I’m hearing, there is concern that immigration is now becoming a potential cost due to the major changes in society rather than a profit center by scaling up marginal returns from every immigrant you can import by hook or crook, i.e., the more people you import, the more you can undermine salaries and increase revenues and thus, profits.