Right after COVID, they used largely unnecessary back-to-work orders to trim the workforce. That was nice for them, as they don’t pay severance if you quit over back-to-work.
Now that is exhausted, they can still use AI as cover for hiring less and laying off workforce to avoid spooking investors into realizing they are contracting.
Also remember that tech companies tend to be evaluated based on insane growth predictions, so anything less than that can spook investors and crash their stock price. They are desperate for cover. Same reason they make lots of fake job postings they will never actually hire for. It’s all a shell game for the stock price.
Right after COVID, they used largely unnecessary back-to-work orders to trim the workforce. That was nice for them, as they don’t pay severance if you quit over back-to-work.
Now that is exhausted, they can still use AI as cover for hiring less and laying off workforce to avoid spooking investors into realizing they are contracting.
Also remember that tech companies tend to be evaluated based on insane growth predictions, so anything less than that can spook investors and crash their stock price. They are desperate for cover. Same reason they make lots of fake job postings they will never actually hire for. It’s all a shell game for the stock price.