Why wouldn't shareholders object to dilution and increasing personnel costs in what might look like a lack of cost controls? And, yes, executives don't necessarily like cost programs so much because they are disruptive.

The bit about HFs wanting to engineer downward wage pressure is a bit crazy (also given the small influence on most big corporations) - evidence needed, I'd say, before credible. What would be credible is HFs expecting downward pressure on wages if there were larger tech redundancies.