The layoffs are not the issue. It is the decision makers who took the two decisions to both over-hire and then mass-fire shortly after. GM is a great example. The company was the largest and one of the most innovative car manufacturers in the world. It doesn't stand a chance against BYD today and it is not by a lack of money (though maybe with a C-suite change).
So my opinion is, yes, the damage is done (or being done) but like GM, it'll probably take 10-15 years until we are in the visible territory. Maybe a bit shorter because this is tech.
So my opinion is, yes, the damage is done (or being done) but like GM, it'll probably take 10-15 years until we are in the visible territory. Maybe a bit shorter because this is tech.