The recent layoffs are for floating up the tanking stock prices that took a nosedive because the zero-interest economy ended, and as a result, the cash-awash economy that existed alongside it also went away. The bloated stock valuations ended up having to match the actual reality. Especially after the investment escaped from the bloated stock market to treasuries and other vehicles with high interest. So profitability became a thing again. AI etc are all tangential and have little impact compared to the gigantic elephant in the room: The end of the zero-interest, cash-awash economy and how it tanked the stock prices.