Define struggling to remain competitive. They are struggling to grow earnings 6-8% a year, which is why they are doing it. I don’t know that I care about that. Agree with taxes and regulations (although some of the large MNCs don’t mind the regs that much - makes it harder for smaller firms to get started/grow).
This could be a preventative move. They see a voracious government ready to snap up more and more of their futures. So might as well make as much hay as possible while the sun shines.