[Jensson]

Most big companies has done that at some point, why would it lead to a death spiral? Death spiral happens when you cut too late, so you are forced to cut but you are still running a deficit and just has to cut and cut and cut without thinking.

[imperfect_light]

I'm not arguing that layoffs lead to a death spiral.

I'm arguing that if you're on a downward trajectory and your primary strategy is layoffs and cutting expenses, rather than investing, you're not going to recover.