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They hired way more than that.

They give two reasons:

- Hiring spree during Covid

- Economic slowdown, eg lower ad spends

Head count had been around 40k in 2019.

Wow so they increased their head count by more than double? How do you even onboard 44.6k people in 3 years? No wonder that they weren't very productive.

Pedantically, it's more than that as there's replacement too.