Laid off at a "startup", is the reckoning here?

Yup, it happened to me. I got called into a Zoom with around 30 other people and it was obvious something was wrong since since the CFO of the company, who I never talk to, or have heard from, was there in the meeting.

"There's no easy way to say this, but we're going through a restructuring at the moment, and everyone on the call, I'm sorry to say, is no longer part of the company," he said to us all.

"This is your last day. In a moment, your Slack will get caught off, and then your email, but we'll be in touch, and we hope you all know this is a difficult time and you aren't being fired for anything you did or didn't do."

Right...first time getting fired, but you could tell immediately his notes were probably some rehashed version of a script he saw on Succession or another lame corporate television show.

Now, I'm not really that surprised about the layoff. I'm probably the 4th or 5th person I know who got burned in the last 2 weeks and the numbers seem to be rising.

So, all this to say, is the moment of reckoning finally here for the startup space and beyond? I'm already hearing whispers Facebook is pausing hiring and that even their interns aren't being offered offers for next year. The technology industry as a whole feels like it's at the edge of the cliff, and one by one, from giant to startup, companies are falling off.

Side-note: losing access to my Slack and gmail so suddenly really had me in a bind. I couldn't transfer any of my personal files off and it felt like a real f*ck you.