This... can't be a signal of strength. There's a fine line between being agile and being erratic.

AI investment makes total sense as a proximal explanation. Minimize debt by trimming OpEx, then reinvest in compute. Seems smart.

And yet - this is what, the third layoff in 5 years? And weren't they doing aggressive performance cuts too? Are they workforce planning in 12 week sprints or something?

This reminds me of an overspending sports team: just toss together overpriced players/coaches, underperform, fire them all, do it again.