The sad thing is, as a large company, you HAVE to do layoffs. Especially in tech.
Hire 10 people. 2 are top rate, 6 are ok, 2 are terrible.
Who is the most likely to leave? The top 2, and maybe some of the 6.
Who will never leave? The bottom 2.
Hire another 10 people. 2 are top rate, 6 are ok, 2 are terrible.
If you don't have a house cleaning, you fill up with bottom raters.
Sad, but true.
And given the ability for bad managers to select staff that, uh, fits their views, you have to be shotgun with the house cleaning.
Terrible for the individual, necessary for the whole.