Stock would take a massive hit. Doing it in this market likely helps confidence in the management team and benefits the stock price.

I would be worried for anyone in the tech sector right now. I had a good friend who was the most expensive dev director at an early stage (received 2 rounds of funding plus a seed round) tech company. He was let go despite him having made some very good changes for the company due to his salary.

He ended up immediately finding a similar role with a better company, but it’s not fun dealing with those situations. For the good people in tech that are caught in the layoffs…they’ll find another good role. For those not so good people in tech, there are certainly other industries they could get jobs in.