This currently _is_ a meme. Heck, even the fed was complaining about inflation and the unemployment numbers.

It's definitely one of those "if we're not growing, we're dying, lets cut all the employees off"

It's also what the fed wants to slow inflation.

And keep wages down during a period of historical low unemployment.

So it's also a cargo cult. Appease the fed gods and they'll turn the money faucet back on again.

That's the gist I get from currently working in a company that did layoffs, the affected number of employees will not impact OPEX in any meaningful way if the issue is cash got more expensive, even less compared to pre-2020/21 levels.

But if they didn't do layoffs when earnings showed an increase in OPEX the shareholders would see it as a bad sign, so to signal to those that this is a serious-business™ the layoffs happen.

Crisis of confidence are pretty well known/studied, this seems to be a flavour of trying to avoid a crisis of confidence if the herd mentality isn't followed.

It all just sounds stupid, and like higher management aren't too far away from behaving like children and not responsible adults.

This is what’s currently happening at all levels. It’s why you see so many companies doing ~5% layoffs while still actively hiring for some roles.

Not only a layoff, but one that is roughly 7%. That's right, everyone made exactly the same mistake, and 7% is the solution.