In my opinion, layoffs damage IT companies that make products.
IT systems are insanely complex and their differentiators are people - people who can understand the complex code AND business environment. To learn that is a steep learning curve of months (or years).
Layoffs will send the best people to polish their CVs and leave OR, worse, the accountants may just fire the most “expensive” people who will be, in the IT world, the best programmers.
87k of the leftist techs will repurpose as irs armed agents.
In case you were wondering where Biden was going to get his stasi troops.