Why did they have such an over-abundance of workforce that they can just casually sack more than a sixth of them?

I'd like to believe that it was because fluff positions are being cut, with unskilled troons and diversity hires being let go. The social programs and "transitioning benefits" Discord offers are netting any sort of positive return for them. We'll see in the next few months if companies have learned anything, or if they're trimming down to slow the hemorrhaging while still pushing the nonsense that put them in this position in the first place.