Folks are treating the recent tech layoffs as something spontaneous. They were not. The current layoffs were orchestrated by a hedge fund (TCI Fund).
This hedge fund demanded that the big tech companies lay people off because they were being paid too much. Let that one sink in: a hedge fund manager saying that you're being paid too much.
Note that TCI is demanding that Google lay off more people.
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@fuzzychef I suppose that makes sense; money paid to employees isn't available to be paid to investors, so makes sense that investors want to reduce it. Dumb investors, probably, since Alphabet's revenues mostly depend on those employees' skills and goodwill, but the error is understandable, if stupid.
