In the tech industry the best employees are going to leave regardless, especially if they're bored.

Also, like banks, the FAANGs pay bonuses. And also like banks, if you want to 'suggest' to someone that ought to leave, regardless of who they are, you pay them a near-zero bonus, and give them a negative annual review as well.

Conversely, if a company wants to keep someone they pay more to encourage that person to stay.

All the gears and levers are in place in Megacorp, to do this kind of thing.

The whole mass-redundancy thing from companies of this size I find distasteful and cowardly, a reflection of the disrepect and arrogance senior management has for it staff, and an indication of mismanagement at a high level that can be afforded because a company is too large to fail.