No, but I have been an employee in a business that had layoffs, then had reduced capacity, and had to scramble to hire new employees.
You can't be too reactive with talent. If you hired 10 people, you should be figuring out how to make that talent pool as happy and productive as possible, not firing them out of fear at the earliest opportunity.
Said business has to hire employees because they can't replace them with tools and AI.
When said business can replace the employees with tools and AI, they will.
Have you ever run a business that employed other people and relied on operational income rather than venture capital to function?
Because this "obvious play" is a screaming red flag for misunderstanding the fundamentals of how business works when money isn't free and speculative.