Atlassian's constant layoffs - what's the endgame?

Another layoff announcement from Atlassian today, affecting 1600 employees. This pattern is becoming really concerning. It's not just one big cut; it's consistent, smaller (or not so small) layoffs happening frequently. The narrative about focusing on newer tech is one thing, but the sheer volume and frequency suggest deeper issues. Are they over-hired? Is their product strategy not hitting the mark anymore? Or is this just the new normal for large tech companies trying to chase efficiency metrics above all else? It’s hard to have confidence in the long-term vision when the workforce feels so unstable. I'm wondering if this is a sign of internal struggles that aren't being communicated, or if it's a calculated strategy to constantly trim fat, even if it means sacrificing institutional knowledge. Anyone else feel like they're just waiting for the next shoe to drop?