Comment by viraptor
It's a huge "depends". Different areas have different recycling opportunities. Some hardware providers have their own buyback/replacement programs. Also some companies may want to reimage and reuse the returned hardware. Finally you want some stock of temporary laptops available for people who are waiting for repairs so some functioning used ones are great for that.
Yeah at the BigCorps I was at, old laptops (as long as they weren’t more than 3-4 years old) were usually reimaged and kept on hand as spares or for interns, etc. But I imagine after a large layoff they ended up with way more than they’d ever actually need.