Every tech layoff is a lottery ticket toward a company ending event. And then every employee who leaves because they realize the company is incapable of loyalty. Then every worker who leaves because their suppressed wages aren’t keeping up with their expenses or hobbies. Another chance to end the company. Nobody knows which perl script is the lynchpin of their company, or which random person will leave with all knowledge of it.

Plus, as this happens the first/second/third time to new employees, they lose any sense of company-loyalty they might have had at their first job. The next time anything goes wrong, these people are already writing applications, and then quitting the moment they get an offer somewhere.

This behavior by company trains people to associate fuck all with their current job. Which is a good attitude as a worker, but usually not something a company would have wanted, historically. A privately held company would usually want to aim for high worker loyalty, allowing them to endure bad market times without immediately shedding most of their workforce.

Modern shareholders+C-suites behavior reinforces this, however. Everything goes in the name of saving the quarterly report and making it look good and paying out your own bonuses.