Let's take your argument and run with it. Profit has nothing to do with this. Most of these large tech companies are still highly profitable. In fact, Microsoft just spent $70 billion to buy a gaming company called Activision. No, this is about something else. It's about control. You aren't seeing many companies outside of tech laying off people and there is a good reason. The power has shifted back in favor of the corporations and they are using these layoffs to send a signal that they are back in control. The insane compensation packages they are paying are coming to an end. Get your ass back in the office where we want you. It has nothing to do with competition or profits.