When other FAANG isn’t hiring, they can all afford to dump part of their workforce, knowing that the rest of the industry won’t soak them up. There’s no where else for them to go without taking pay cuts.
In reality, they approved the strategic direction of the company and signed off on the outrageous hiring plans. They were responsible for fostering a culture of execution and measuring the results of their teams. They were responsible for ensuring their investments were paying off.
Instead of messaging that "As CEO, we did not invest in the correct strategic direction of the company with the associated supporting culture to execute on our plans and as a result need to re-calibrate our investments" - they instead say "Too many employees aren't working, it's all the fault of the low performers!" or a variation of that message.
Basically, "memo to employees" is the process.
If I had to guess why Zuck isn't happy, it's that the new hires plus the increased organisational bloat of such a massive amount of new hires didn't materalize into spreadsheet numbers that looked good.
Pichai's messaging is more reasonable, even without context. He's just saying the company needs people to work harder. I'm fine with that.
Or why don't they bring back the 20% rule and let the smart folks they have hired to come up with new projects? Some of them may end up bringing revenue.
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