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I was talking about this with my boss today; there are so many people being laid off that many of them may never work in the technology industry again. Very few companies are recruiting in any meaningful way right now, and those that are have already begun to rein it in a bit as there is an expectation of a major recession specific to the technology sector.
andyp
I was thinking "well better to do pay cuts than mass layoffs like all the other tech companies" but the article suggests that they also will be making layoffs. They'll end up with their best people wanting be laid off so they can get the payout and then go get a better paid job elsewhere. It's such a bad decision...