Layoffs aren't about need. That's the cozy "we're all in this together" narrative that they keep feeding you. They probably can fund these people, as you say. But layoffs are fashionable today.
Right. The _unspoken truth_ in all of these announcements is that _the CEO failed at their one job of keeping the company disciplined_ but it's the _rank and file_ who suffer the consequences of the "tough decision". It's a "not subtle at all" power check to calculated to intimidate the unfortunate people who remain. They've wanted to do this so bad for so long: it's why they kept feeding the media the weak "great resignation" narrative that they lapped up and regurgitated on HN and elsewhere.
Yes, but is it fashionable to lop off 21%?
It's fashionable to sack tens of thousands, they're doing the best they can with what they've got... you don't make the news for laying 5 people off