I'd disagree. I've worked for multiple fortune 15 companies. You don't fire percentages of people because they're under performers. Hiring is insanely expensive. That's the excuse executives use to justify downsizing and shift blame. The entire purpose of letting people go is to cut costs and if you look at where costs are cut, it's to underperforming areas of the business or portions of the business that produce no revenue like HR, which this article mentions.