When this collapse in workforce population occurs perhaps firms will learn that they can survive and even thrive with much less "fluff staff" who mostly sit idle or contribute very little to the overall success of any given project. I continuously see a decent amount of what I consider staffing excess in a large fraction of the companies I've worked with. (My personal philosophy here is that companies/projects/etc are better off with fewer and much higher quality employees. The challenge is finding them, hiring them and keeping them.)

It's been echoed here often that many of the large SV firms and MAANG-type companies were just hoovering up talent to keep them away from competitors. This seems like a decent corp strategy when cheap money is raining down for 1-2 decades. However, now that we're entering into a new macro-economic climate maybe this practice will subside a bit, too.