The problem is that this is indistinguishable from a company over hiring and deciding that we can cut folks and make it seems like I didn't make poor decisions. Which option would most people take? If we look at the few companies not making big cuts we see a pattern, strong fiscal discipline 
I will leave that an exercise to the reader to figure out who those are but it is an exercise worth doing.
So then we need to look at outside objective data and see does that line up. So far all of these data points do not line up e.g.
Shafik Yaghmour (@shafik@hachyderm.io)
Attached: 1 image "CEOs Say AI Is Making Work More Efficient. Employees Tell a Different Story": https://www.wsj.com/lifestyle/workplace/ceos-say-ai-is-making-work-more-efficient-employees-tell-a-different-story-6613ce9d We know that workers actually tend to overestimate productivity savings so I would take this as an overestimate and assume reality is actually even worse. These are devastatingly bad numbers. #ai
Hachyderm.io (hachyderm.io)
and this one says something similar:
29th Global CEO Survey
CEOs are reinventing their companies with technology and seeking growth opportunities in new sectors, even as they see elevated threats ahead.
PwC (www.pwc.com)
So we have folks saying one thing but all the data saying something different. We can claim the data is all wrong but is that a believable take?
An alternative take is the data will catch up, but four years in, how long do we need to wait?