The tech industry is going to take a while to recover from the current economic shocks, and everyone – whether you work for the affected companies or not – will have to face some pain in the short term.
Not sure what conclusion to draw from that.
On Long Island (where I live), we have the Pine Barrens. These are areas of scrub and pitch pine trees, in a sandy soil. They require occasional fires, in order to reproduce (opens the cones, and fertilizes the soil).
Back in the early 1990s, we had a pretty major wildfire, because they had not been doing controlled burns. I think New Jersey suffered something similar, around the same time.
Since then, I hear they do controlled burns.
I have seen no "controlled burns" of the bloat that infests the tech industry, so this is likely to be a fairly significant wildfire.
Arguably it's better for the employee (assuming they actually underperform) because then they can recognize "this is me, I need to aim lower or upgrade my skills, etc" instead of "I was one of thousands laid off, I'm fine, it was the company".
How did you come to this conclusion? The doubling of headcount in 2020 and 2021 in a year didn’t signal that this can turn on a dime in either direction?