"We need more developers!"
"We need more developers!"
"We need more developers!"
"We need more developers!"

... slight downturn

"Sack the developers! We don't need them!"

... 2 years later

"Where are all the developers?!"

https://www.nytimes.com/2022/12/06/technology/computer-students-tech-jobs-layoffs.html

Computer Science Students Face a Shrinking Big Tech Job Market

A new reality is setting in for students and recent graduates who spent years honing themselves for careers at the largest tech companies.

@jasongorman I knew of a large company well known (locally) for its 5 year cycle of ...

1. We need to get stuff done! Bring in contractors!
2. More!
3. More!
4. More!
5. More!
Then ...
OMG! This is costing us! Kick 'em all out! Clean house!

And then ...

OMG! We need to get stuff done, but have no people! We need to bring in some contractors!!!

A regular cycle.

(They did eventually break out of it, I've been told.)