[DarkNova6]

No, I don't think so.

1) I really have no issues with layoff in Big Tech. They pay very very well and no parent who was let go can't feed his family all of a sudden. If you were even a semi-decent employee, you can find a job at another place quickly. So many places still look for people in spades.

There are as many good business reasons to contract your workforce, as there are bad ones. And it's likely you hired a lot of low-performers and quacks during peak hiring. Now is the time to do so without creating public outrage.

2) This implies that the reason for layoffs are exclusively linked to payrolls. And the guy in the interview suggest as much as well. I dispute this notion.