If so, doesn't that say something about the low quality of the current crop of CEOs?
A smarter CEO might not go on a hiring spree just because everyone else does; or conversely might hire when others are firing as they know they'll get some good quality developers at a lower price.
And if the goal is to drive down wages, they could have experimented with different practices, such as across the board wage cuts, but instead they're all pursuing layoffs.
If Federal reserve did not explicitly say that its objective was to drive down wages, you could have escaped to that kind of thinking to escape cognitive dissonance. But its not so. The entire financial segment of the economy is collaborating to drive down wages.
