Laying off employees can make a profit.

The company has been performing better than expected from the fourth quarter of last year to the third quarter of this year, but in fact, the losses are just better than expected.
The company's engine revenue has actually hit a ceiling, advertising revenue is blocked. Just look at how much applovin, which once proposed a merger, is worth now, you will know the level of U's advertising business. The new CEO has been in office for over half a year, and the company still cannot make a profit.

When new business development is not taking off, the fastest way to make a profit is through layoffs. No major institutions will be interested in the stocks of a company that has been consistently losing money and not growing.