The US Fed monetary policy has everything to do with it. Money is especially valuable right now. As well as the proliferation of new "AI" tools that increase worker productivity by 10x-1000x. Between the Fed tightening demand and the AI tools simultaneously heating up supply (productive output), it's no surprise these layoffs are happening.
> increase worker productivity by 10x-1000x. Tell me you're not an engineer without telling me you're not an engineer
¯ \ _ ( ツ ) _ / ¯