Employees pay off Management's sins.

https://m.economictimes.com/tech/newsletters/tech-top-5/infosys-allays-layoff-fears-freshworks-cuts-losses-by-91/amp_articleshow/122999840.cms

It is clearly an indication that job cuts are due to mismanagement from tc$ end but instead employees have to suffer. On the other hand, peers are not doing any layoffs instead planning for more hiring...