Another round of layoffs. What's the real reason this time?

Just saw the news about another 639 people let go on June 17th. This feels like a recurring nightmare at this point. The official line always seems to be 'restructuring' or 'efficiency,' but honestly, it feels like they're just trying to trim fat that they themselves added. Is it a genuine need to cut costs, or are they signaling something bigger about the company's direction? I'm trying to understand the strategy behind these continuous workforce reductions. It's hard to maintain morale and focus on the work when you're constantly looking over your shoulder, wondering if you'll be next. Does anyone have inside info on what departments were hit hardest this time, or what the long-term plan actually is? Seriously asking for a friend (who is definitely me).