Every tech company of appreciable size and bureaucracy is carried by 20% of employees, while the other 80% are some level of checked out / coasting. Every quarter that interest rates remain high, more of that 80% is identified and excised. Yes the lazies do some amount of work, but usually the 20% of high performers can automate the terminated people’s jobs enough to carry that load as well.

My advice is to not rest on your laurels. If you are concerned you could be seen in the 80% of lazies, maybe put some extra effort in, work some late nights and weekends, at least as performance reviews come up. Life isn’t fair. Sometimes you need to work a real 40 hour week, even in tech.