I’m on my way to work so I haven’t got a chance to watch the videos. I don’t think the layoffs represent trouble at Fender per se, I think this is fender assuming crash position.
The hand writing’s been on the wall with the advent and focus of their online educational programs. They could see the demographic shift coming and knew that the boon from the lockdowns was an unexpected yet temporary windfall.
Fender is just the first of many who’s going to have to trim the sails (sales?) and throw the ballast overboard because the head winds are already gale force and the horizon is nothing but a long line of dark clouds.
Just an observation from my side of the pond, so to speak.
When I browse the bigger online music shops over here, they will have some Fenders and Gibsons, but the majority of the ads is for guitars from China and Japan, brands I've never even seen mentioned on GT, with specs Fender and Gibson can only dream about, for half the money, more often less.
As I noted in another thread. Asia is a huge up an coming demographic for guitar brands and unfortunately Fender and Gibson already seem to have lost the race before the green lights are out.