Comment by andrewstuart

When everyone is doing it, companies see it as an opportunity to trim down the fat they have accumulated during the good times.

There's no stigma for them doing it if everyone else is.

If they lay people off in good times, then that is a serious indication of trouble at the company.

If they lay people off in bad times then that is an indication of wisdom and prudence.

I've seen it in multiple recessions.