You’ve made some very good points, especially regarding bringing up all the other tactics they’ve done to increase the labor pool.

However, I’d like to point out that your very last statement is not entirely accurate. They do all of these things with the true end goal not being to depress wages, but to increase the value of their investments as much as possible and thus make as much money as possible. Of course, lowering costs (i.e. wages) is very often a major factor in that, but they aren’t just evil and intentionally trying to make tech workers poorer.

Now, with that being said, let’s switch context to all of the research you presented showing that layoffs more often than not harm the well-being (and thus, the value) of the company rather than helps it. With that in mind, if layoffs hurt the value of the company, and thus the value of investor equity, why would investors push for layoffs?

This now loops back to the point I was making in my earlier comment that you completely ignored: there is a very good chance that investors genuinely believe the conventional wisdom that layoffs will increase the value of their investments and profitability of the companies they have stakes in. Again, they aren’t calling for layoffs explicitly to suppress wages, they call for them because they think it’ll make them more money.

So, I’ll again ask the question which you still haven’t answered — what do you think is more likely?

A. That major stakeholders and decision-makers are pushing for layoffs due to an emotional response (getting scared because they see other companies doing layoffs, so they wonder “should we do that too?”), plus a genuine belief in the conventional wisdom that layoffs would increase their company value and profitability?

or,

B. That all of these layoffs are actually part of a massive conspiracy to explicitly lower wages in the industry, despite wages trending way up in the past few years?