Most boards(particularly of large publicly traded tech companies) don't hire CEOs to ensure their companies remain stable in the longterm at the expense of profits, they hire them to grow short term profits.
Boards don't see the over-hiring as a mistake. On the contrary, had CEOs not moved to grow their companies relentlessy and pursue profits in the years during/after COVID when tech was booming, their boards would have fired them. Now that times are leaner, they need to rein in spending to maintain profits -- if they dont do that, then they'll be fired.
Boards don't see the over-hiring as a mistake. On the contrary, had CEOs not moved to grow their companies relentlessy and pursue profits in the years during/after COVID when tech was booming, their boards would have fired them. Now that times are leaner, they need to rein in spending to maintain profits -- if they dont do that, then they'll be fired.