Not really. They call it "extending the runway". In other words make their cash last as long as possible. As a tech business, they are trying to grow a lot. So they hire when times are good to keep innovating and growing. Once the market goes down, they can't sustain that growth so they lay people off to survive the winter.
The only other 2 options are not hiring during good times, which means you get left behind and your competition wins. Or you don't lay off workforce when times are bad and you go bust as a company.
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