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that's irrelevant

they overhired and now they are fixing it, and that profit margin will rise with the reduction in compensation

they're firing because they can

Overhiring should be punished. But it isn't. A shitty CEO can tell his company to overhire and then when that becomes a problem, he can tell his company to do layoffs and never pay a price.

There shouldn't be much controversy over fixing pandemic-era over hiring. But that's just the public-facing rationale. Betting more heavily on AI tech might be the real reason.

You should fix overhiring by firing the people that overhired. That never happens though because there's no accountability in leadership in any major tech company.

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