Or the pattern is due to a common cause between the high tech firms, and we know what that common cause is: they overhired 2020-2022.
These firms have colluded to drive down wages before (the "Techtopus" case), a fact that we know because they were stupid enough to put it in writing. This time there's no proof and may be no explicit agreement, but a tiger doesn't change their stripes.
Except for Failed Metaverse Inc, everyone else has grown revenue proportionally and profits decent enough.
And while last year was potentially quite good, that isn't the projection.
https://i.imgur.com/gUz6AlW.png
Employees went up significantly: https://www.wolframalpha.com/input?i=%28Microsoft+employee+c...
Revenue leveled off: https://www.wolframalpha.com/input?i=%28Microsoft+revenue%29
Profits are on a downward slope now: https://www.wolframalpha.com/input?i=%28Microsoft+profits%29
Yes, they're 50% greater than they were in 2019. The staffing is at about 1.5x what it was in 2019 too.
So, crystal ball time - what will revenue be a year from now? Will the profit per employee be lower than it was in 2019?
And if the answer is no, should Microsoft lay people off or hold off on salary increases?
The tragedy!
Their revenue and profit per employee will be at their highest points for every year until at least 2020! Who could ever bear that???