A few days ago we were criticizing Nintendo because it was making too much money per employee and didn't hire enough. Also, we criticize Google for laying people off and Amazon for everything else (overhiring?). One wonders why Apple gets high praise for "hiring cautiously".
But I think if you go back and look at who is criticizing Nintendo, they're not the same people criticizing Google and Amazon. They're opposing sides. It's move-fast-and-break-things versus do-it-right-the-first-time. Both have their merits.
But when you move fast and overhire, you upend people's lives when you have to let them go.
When you move slow, you provide fewer opportunities for people, but noone upends their lives over it.
For my comfort, I choose employers who prioritize keeping the team intact, even if that does mean fewer opportunities during boom times.