Ah. It all makes sense now. It is cheaper for them to layoff with a decent 3 month severance than it is to pay high interest on the debt that is funding their salaries (interest rate will stay high > 1 year, going by Powell’s comments).
I am glad they did it transparently, but I wish they had been more open about this fact. Shifts the entire perspective IMO.
I am glad they did it transparently, but I wish they had been more open about this fact. Shifts the entire perspective IMO.