The IT tech industry isn’t doing great currently. Everything was fine as long as there were a practically infinite amount of money going around, but lately investors have been increasingly demanding signs of profitability over “limitless” expansion and growth.

That’s why a lot of companies have been doing these seemingly drastic changes lately. It may absolutely result in long term damages, but that is not their main concern at the moment. In some cases this is also somewhat a moment for these companies to show their cards and prove that they actually deserve the evaluation that they been given. I suspect that there will be quite a lot of agitated people in the coming months and years.