It's situational - sometimes a layoff headline may push your stock price down.

I imagine current round[0] of layoffs is opportunistic - companies know they'll want to do some layoffs at some point, but when's a better moment than when everyone else is doing layoffs? The public at this point doesn't even care anymore - there's been too much of it going on, it's not novel, it's what everyone's doing.

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[0] - I'm not sure if "round" is even a good term anymore - it's been what, half a year already, of ongoing layoffs in tech companies? I've been seeing at least one headline per week about some recognizable name in tech announcing/executing layoffs, since February, or maybe even January 2023.