Google's 2019 revenue was 161.85; it's 2022 revenue was 282.83. Some of these companies legitimately just grew a lot during covid (and probably would've grown anyways).
Of course some companies like Twitter were hemorrhaging money; but if your revenue per employee is in the millions it's a pretty good question of why are you firing anybody.
When cutting back at that scale it’s never performance based on an individual level. Its performance based as a business unit.
But also Google then spent like 8 months of salary per fired employee (severance & etc). Surely it's cheaper to figure out how to move the employee from the unnamed "incredibly unprofitable department" to a profitable department. Like Google had 186,779 employees end of 2022 Q3 which drops down to 182,381 in 2023 Q3.
---
To get back onto the article, it does make the claim of "tech company workforces have largely returned to pre-pandemic levels".