[itsoktocry]

>Companies would start to min/max this process and would use it as a way to meet targets (perhaps unrealistic ones) at the expense of take-home pay for employees, even in situations where they don't actually need to make cuts.

And the reverse? We literally just went through a phase where tech companies over hired like crazy, at ridiculous salaries. We had people remote working 3 or more jobs at a time. And yet, people still act like companies have all the power?

This stuff ebbs and flows. The reality is the value of your labour fluctuates, despite the inconvenience of that to you.