Very simple, an economic downturn leads to any public company looking at their cost structure and polishing up the numbers. Big companies accumulate a lot of organizational debt where teams, departments, and individuals under perform for whatever reason and often not even because of their own fault. Corporate stupidity, and mismanagement, are also things that plague big corporations. Just look at Google lately.<p>Regularly pruning the org tree is both something that needs some level of excuse as it would otherwise upset the rest of the org tree; and needs to happen once in a while. The people least likely to leave by themselves are usually the once targeted explicitly. So, any kind of economic down turn is usually a good moment for that. Doing it wrong means your best people leave first, which is usually counter productive. So, you have these trillion dollar companies shedding a few crocodile tears over having to say goodbye to a few not-so-valued employees and using all the usual euphemisms, cliches, and woke language for that.<p>So, classic targets for layoffs are HR (ironically), supporting functions like IT, middle management, people promoted to their level of incompetence (Peter principle), etc.