alt Hacker News> the absurd overhiring that they did in 2022 and 2023
The overhiring took place from mid 2020 through mid 2022. The reversal into layoffs started in late 2022 and was in full swing in 2023. While the overhiring problem was real, the correction was largely complete over a year ago. The layoffs we're seeing today have nothing to do with overhiring and everything to do with managing earnings to sustain equity valuations.
Replies
darkstar_16 • today at 9:12 AM
I think it's a bit of both and perhaps 10% AI. Companies like Block are bloated for what they offer.
re-thc • today at 11:05 AM
> the correction was largely complete over a year ago
We had tariffs and other disruptions since. So more correction is required.
> managing earnings to sustain equity valuations
That's an interesting take, so eventually they'll just run out of these tricks and at that point the valuations will burst?