alt Hacker NewsThe FAGMAN companies got caught colluding to depress wages by avoiding hiring people already employed by the others, so they learned to accomplish the same thing without writing it down by having these periodic huge layoffs across the entire industry https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_L...
I remember hearing about that.
Of course, this is just when they got caught doing it. Who knows how often it happens where they don't.