Ask HN: Is the layoff split along public/private companies?

Most of the layoffs (at least the ones you hear about) seem to be from big, public companies. It seems like those companies are more incentivized to show near-term profits, cut costs, pay dividends, collect rent on the products they already have.

While private companies are 1) less beholden to the whims of shareholders who are far removed from the business, and 2) more likely to prioritize growth and development than rent-seeking, especially if they hope to go public some day. This feels like it translates to retaining employees and continuing to hire.

Does that logic check out? It lines up with what I've seen anecdotally but I'm curious to get more anecdotes