Business is all about calculated risks. You can't tell the future, so you make decisions based on your best guess on how the future will play out.
The covid downturn happened over 3 months (feb - april). To start laying off people you have be sure there's no recovery happening around the corner. For example, you may bet that business will improve in may, june, july that will save their jobs and your business outlook. I'm obviously over simplifying since projects, release dates, projected ad revenue and a 100 other factors play into it.
It's easy to sit on the side lines and judge it with the history behind us, but reality is more complicated.
The covid downturn happened over 3 months (feb - april). To start laying off people you have be sure there's no recovery happening around the corner. For example, you may bet that business will improve in may, june, july that will save their jobs and your business outlook. I'm obviously over simplifying since projects, release dates, projected ad revenue and a 100 other factors play into it.
It's easy to sit on the side lines and judge it with the history behind us, but reality is more complicated.