[jakarta]

it demonstrates that investors want to see a return on their investment more quickly in a higher cost of capital environment. Look across tech, all of these companies staffed up hard, raised at too high of valuations, and are now fat with slow growth and no profitability.

[Macha]

Even in ZIRP times, layoffs resulted in stock price growth also. See for example Amazon's Feb 2018 layoffs which caused their stock price to jump from $70 to $80.