Keep in mind that it might be (or might not, impossible to predict) a preemptive decision due to uncertainty, not necessarily due to actual changes they see. A company I worked at when COVID started also had a hiring freeze, but had the best result in years during 2020-2021 due to the market situation.
Ultimately all companies are linked to a market of some sort which in the end can see growth or shrinkage if a crisis comes, you can't do anything about it.
This is what I really expect. Just like the oil companies that jacked prices up and then claimed record profits lol.
Ultimately I think this might be an around-the-block way to cut fat, get rid of remote workers, and a desperate attempt to try and take control of the job market again.
If the big companies claim the sky is falling and start laying people off and cutting costs everywhere, then everyone else is going to follow.
The evidence will be in earnings reports later on. If a company's executive management is crying wolf and then reporting record profits, well.........
Yeah, you have to wonder how many people who were let go in Q1 2020 because of lockdown uncertainty were let go needlessly based on how tech rebounding in the following months.
Ultimately all companies are linked to a market of some sort which in the end can see growth or shrinkage if a crisis comes, you can't do anything about it.