Yeah. I mean, the over-hiring is certainly a big element (indeed, almost everyone says that explicitly in their public statements), and I'm sure that many companies are quietly over-leveraged at the moment. But the relatively consistent across-the-board 10%-ish cuts, even among companies that are still hugely profitable despite having grown a touch fast, is just plain weird.
Really, it's the degree of consistency across many companies that largely inspired this post. I'm entirely willing to believe that it's just everyone running with the herd and panicking together in reaction to interest rates, but it provides some room for entertaining speculation otherwise...
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Date: 2023-01-25 02:16 pm (UTC)Yeah. I mean, the over-hiring is certainly a big element (indeed, almost everyone says that explicitly in their public statements), and I'm sure that many companies are quietly over-leveraged at the moment. But the relatively consistent across-the-board 10%-ish cuts, even among companies that are still hugely profitable despite having grown a touch fast, is just plain weird.
Really, it's the degree of consistency across many companies that largely inspired this post. I'm entirely willing to believe that it's just everyone running with the herd and panicking together in reaction to interest rates, but it provides some room for entertaining speculation otherwise...