Wasn't most of that caused by that one change in 2022 to how R&D expenses are depreciated, thus making R&D expenses (like retaining dev staff) less financially attractive?
Context: This news story https://news.ycombinator.com/item?id=44180533
Context: This news story https://news.ycombinator.com/item?id=44180533
Or could it be, after the growth and build, we are in maintenance mode and we need less people?
Just food for thought
And since then there's been a constant doom and gloom narrative even before AI started.