Earlier quoted context omitted.
Like many tech companies during zero interest rates, they over hired and did not anticipate interest rates going up so fast. At least these employees probably made a ton of money.
This has nothing to do with interest rates, none of these companies are borrowing to hire. And Meta, Amazon, Salesforce etc are only shedding excess pandemic hires. If you look at a graph of hires over a decade, the pandemic shows a huge blip up, and these layoffs correct that.
I think you're arguing against yourself.
Why do you think there was a huge blip up during the pandemic? Because their revenue was increasing at a faster rate, so they hired to sustain the increase in revenue and they believed the growth rate will continue. Why was revenue increasing at a faster rate? Two reasons. First, zero interest rates meant that people had more money to spend than before. Second, staying at home meant that people didn't have much else to spend their money on except tech/internet.