They were laid for to optimize profits, replacement by offshore workers, and the aspirational promise of generative AI. Value discovery remains to be seen.

Artificial Intelligence and the Labor Market [pdf] - https://news.ycombinator.com/item?id=43235781 - March 2025 (2 comments)

HN Search: offshoring - https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...

https://layoffs.fyi/

500k tech workers have been laid off since accounting for expenses under Section 174 changed on January 1, 2022.

I think that excuse goes in the same bucket as "It was a Zero Interest Rate Phenomenon."