That's why they've waited to do this until the job market is at a downturn and it's getting harder to find positions. Especially for people at the upper end of the seniority bracket at FAANGs who are used to a very high compensation package.

I walked away from my Google job 3 years ago knowing I could comfortably go wherever (and work remote, too), and took months off in-between, too. I wouldn't take that risk now.