The market conditions have become such that there is a shortage of jobs in the industry. When the income of an industry falls, it will force the industry to cut expenditures.

Some examples are:

Hiring Freeze 

     Some industries are not laying off old employees out of fear of rebellion but rather reducing employee facilities to make expenses more affordable and freezing new appointments. For example, Apple 

Firing Without Compensation 

     Some companies have suddenly suffered losses due to being targeted by others for various reasons. These companies are firing employees without giving them time or financial support, claiming that they are completely incapable of paying salaries. For example, Twitter

Firing With Compensation

     There are some companies where employees are being laid off due to a fall in the value of their shares, but even in this difficult time, it has been decided to give some financial and other concessions to the fired employees so that they can find work elsewhere without getting upset. For example, META. 

An Attempt To Recover With Experience 

     There are some companies where ex-employees are proposing to help the company with their experience and make it recover from the loss in order to prevent mass layoffs. For example, Microsoft.