To me this sounds like these firing spirals have zero to do with results and revenue and the economy, and everything to do with conspiring against their own staff.
The diktat to fire people didn't sprung from the same org level that was tasked to do the firing.
Those who ordered X% to be fired didn't even bothered with freezing hiring.
In cases like Amazon, apparently they even forbade internal transfers.
Woefully under-utilized talent before the layoff, followed by a drastic headcount reduction.
Those affected ranged from “yea I can see why” to “complete footgun letting this person go, GG”
For me personally, being free and with time now feels amazing. I no longer feel like my skills are stagnating or my brain is curdling. In retrospect, I think the politics may have screwed me…
You can, of course, hire the same people back (assuming they are still willing to work there).