With everything snapping back to pre-pandemic reality, from hours spent watching online videos to corporate takeover activity to interest rates, it’s hardly a shock to see companies scrambling to restructure.

Such is life in a normal economy, one might say. Consultants at McKinsey and KPMG are downsizing themselves companies like FedEx Corp and Boeing Co are cutting middle management and “bureaucracy” weak banks like Credit Suisse Group AG are being buried. What began with a wave of layoffs among high-profile Big Tech companies is spreading. There have been more than 500,000 job cuts announced around the world since October, as tracked by Bloomberg, dominated by white-collar firms like Vimeo. Three years on, revenue is in decline, its shares have slumped 93 percent since going public and it’s slashing jobs. In April 2020, with around half the world locked down, video-streaming website Vimeo Inc was dealing with “unprecedented” demand, funneling investment in customer support and technical infrastructure, and hosting virtual lunches for new hires.

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