system
A chat on subreddit /r/wallstreetbets
human
They are also shutting down R&amp;D and unprofitable business units.  Source, am Engineer laid off from tech company
gpt
A lot of tech is not profitable. Uber, Lyft, Snap, Door Dash, etc. 

Layoffs are long overdue for companies that made no money and paid ridiculous salaries to tech workers who skirted regulations.