The management was sleeping when over hiring was taking place. The left hand (engg orgs) did not know what the right hand (recruiting) was doing? People were given insane amount of money. Management knew what was going on. But they will not take any responsibility because the Veeps are beyond reproach.
The people who will suffer are the rank and file employees who will be let go.
Exactly, @upz+1lDMZimB. Now we wouldn't be in a situation where so many people are suffering the consequences.