Microsoft laying off (and yes, this is a layoff, no matter how it's spun) 25% of the entire freaking company is not a sign of a healthy organization.
You can't and won't tell me with a straight face that AI will replace them.
They are not laying off 25%. Not everyone will take the buyout.
My hot take is that we're headed to an economic freefall and/or depression. They're trying to get ahead of it.