Of course they do. Even in industries that didn't overhire during Covid or did other strategic blunders over the last decades, you see jobs getting cut all the time. Big Tech makes the news because everyone is looking there... but the entire economy is a bloodbath.

And even those that don't do layoffs, have you looked at open job postings recently? It's all dried up, and to a large degree because C levels are waiting for the "cambrian explosion" of AI. A lot of the infamous "bullshit job" list is in serious danger of getting eliminated by AI.