[Jensson]

Everyone moved up a pin, and the lowest ranked company got a bootcamp grad. Now everyone moved down a pin, and the bootcamp grad wont get a job. That is roughly how this works, not as clean but the end result isn't far off.

[nivenkos]

A lot of the lay-offs were senior technical staff though, at least at my company.

Like C++ Staff engineers, etc.

It seems more like a realignment to shift those jobs to cheaper subsidiaries like India, Pakistan, Mexico, etc.