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It is definitely to keep investors happy because it comes with RTO, which is another thing investors seem to like.

AZ could have very well gone nearly 100% remote for SDEs and slash the office costs without messing up teams and deadlines.

Hah. Now we're using logic?

RTO is about control.

Those are the same thing! Investors care about profits, which are dented by over-hiring.

The stock price is down 2.5% today. The investors didn't like it for some reason.

My experience is that Wall Street loves a 1st round layoff, interpreting it as cutting fat. Anything after that they interpret as cutting into the meat of the business.

They may or may not also see multiple rounds in the same light many of us do: as incompetence in the management team.

Meta jumped up 5% at their new layoffs announcement last week