Google spends what, upwards of $10B a year on software engineer salary and benefits? So, seems like a good deal. If they can spend $1B and decrease salary’s and benefits by at least 10% over a few years, they get return on investment.
Labor does not get to share in economic growth, they get to split an ever decreasing share of profits. The more people that are available to sell their labor, the more pieces that shrinking pie has to be cut into.