They only made $1.45 billion last year, just up 56% year-over-year.
They were expecting to make over two billion. Which from the perspective of an American corporation, means they lost half a billion dollars. So the end of year bonuses for the c suites are only half as much as they were anticipating, which from the perspective of American executives is like they lost hundreds of thousands of dollars this year.
So you see, it makes perfect sense why hundreds to thousands of employees must be laid off. The business is in a dire position!