More evidence the layoffs are 100% BS. Suddenly there's surplus headcount and magical budgets out of nothing, all to accommodate several hundreds of people with way-above-market-average TCs. It's almost like they were never in danger of hurting profit margins in the first place.
It is entirely reasonable for there to be dire financial straits that require layoffs, yet when a $10 billion investment suddenly blows up and has to be saved the money can be spent to fix it.
In the first case it wasn't that there was no cash in the bank and no bank willing to make loans, but that the company needed to spend less than it earned in order to make a profit. In the second case it wasn't that the money had been hidden in a mattress, but that it was raised/freed-up at some risk which was necessary because of the $10 billion investment.
These tech giants' finances are public, because they are publicly listed companies. All of them are sitting on fat stacks of cash and positive YoY revenue growth. They have absolutely zero chance of running out of money even if each one hires 10000 front desk clerks who do nothing but watch TikTok all day and collect $100k/yr comps. Zero, Zilch, Nada.
