I actually think the estimate there for "software engineers" is too high, because it's likely that a very large number of layoffs in "software engineering" was engineering management, especially middle management and director level roles. Meta was perhaps the most transparent about their desire for a flatter org structure.

Obviously this is not always the case (Amazon, for example, canned much of the Alexa devices division), but I think companies realized that in many cases there were "too many cooks in the kitchen".