The whole point of taking funding is that it lets a company grow headcount ahead of achieving the sales to sustain it. So they'll estimate that X headcount will be needed Y months in the future. When growth doesn't materialize then X comes down and when funding is less available then Y comes down. Then they have layoffs.

X and Y became unusually high in 2021. If we have an actual recession I'd expect more layoffs from the same companies.