[abhnv]

I don’t understand why are senior developers getting fired.

If over-hiring was the reason for the layoffs. Then shouldn’t the recently hired people be fired?

[icedchai]

Often it is not individuals being directly targeted, it is whole teams. "Project Foo is not working out, let's cancel it and fire the whole team." Not saying that happened here. It is impossible to say what logic went into these decisions.