It's all in effort of "line goes up" in the immediate short-term despite the fact that a year from now these companies are going to struggle to complete difficult projects. My company has layed off a number of 10, 15, 20+ year veterans because they were highly paid. Now there are gaps in knowledgeable folks to tap for help and Juniors are being forced to perform to a Senior level without proper support.
The pandemic growth periods caused every company to loose their damn mind to make growth projections based on those insane numbers for a time that should have been ruled out as an outlier. I know these MBA fucks had to take a business stats class, but literally dropped the fundamentals when they saw big $$$. Now they're cutting the talent that fostered their primary growth and will be looking back 6 months from now wondering why they still aren't growing. Well surely the Juniors aren't working hard enough!