Sure, maybe in tech, which had been in an unsustainable bubble for a long time. But unless everything changed in the last few weeks, we haven't seen this in the overall labor market, which remains as hot and labor-friendly as ever. Only interest rate bumps will put a dent into this unprecedentedly strong labor market.

I'd argue that a hiring freeze is an appropriate way of weathering an economic crisis. We have really only seen mass layoffs in a small handful of companies. The most recent one went on a hiring spree without any real plan to execute, e.g. new revenue.