[kypro]

Also I'd argue that a lack of layoffs at a company probably causes stagnation and inefficiency. I don't thin the only good argument for layoffs is that a company has no choice because of cash flows.

I see this in the public sector where you often find people who have been working at the same dept for a decade or more. These people feel very safe and know they don't really need to try that hard. They also know nothing about how things function elsewhere so they'll put up with using spreadsheets and fax machines because that's just how they've always done things.

It seems rather obvious to me that a good economy is one where employers feel some nervousness about losing good employees, so offer pay rises and perks; And where employees feel some nervousness about layoffs so work hard and try to be as productive as they reasonably can be.

If a company is not cutting a few percentage of their least productive workers each year they're probably doing something wrong imo. I think it's far to argue big tech companies built up a lot of these under productive workers over the years.