This is 100%. The layoff is not because AI is magically changing things, or because clients need less work. The nature of work is changing, projects are smaller and more focused. But, behind all of this is the need for free cashflow which can be achieved through higher sales (not going to happen) or cut in expenses (it's happening right now). She needs cash to finance AI infrastructure build out, and the only way to find the $$$ is to cut people. She has no other options (ok, she can go in debt, but that's always bad). So, she's repeating the same thing that AWS (30K cuts), MSFT (25K cuts), META (20K Cuts) and others are doing.
I wish all of us good luck.