I'd say the biggest problem is AI complacency, something like: "in the future our revenues will be the same but won't need any people". So, in order to prepare for this future the obvious course of action to do some layoffs and just chill for a while. The problem is, we don't really know when this future will happen. If it is soon, maybe companies are making the right bet, if not it is more like a deliberate choice to slow down. That's fine if one or a few companies choose this path as competition will correct the error. However, if they essentially all move in unison competition won't fix the problem and we'll have a self-inflicted economic contraction for no reason.

The other factor is, will revenues really stay the same for companies once we have AGI / super intelligence? It seems value will not accrue to the companies that are in chill mode.