I wonder if that is just a correction of the rampant hiring that took place just before this employment “crash?” - if it is as you say that its intermediates and non high performers then does that make it a good thing as well.

Truth is, when I was part of larger orgs/enterprise I definitely saw some folks who were dead weight, and I don’t mean to be harsh, a few of these knew they weren’t contributing and were being malicious in that sense.

Similarly, I wonder how many high performers now are taking multiple jobs thanks to remote work and exposing the mid to low performers. Like some kind of developer hypergamy taking place.