I am absolutely certain this is to suppress wages and employee rights. It is a coordinated effort across the industry and should be immediately investigated.
Was the pandemic hiring spree coordinated also? Just copycat behavior the whole way through imo.
I was a young kid during the dotcom bubble and in highschool during the '08 downturn so I wasn't really aware of the macroenomocic trends in the industry then, but now that I am older and deeply invested in the tech economy it's so obvious.