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Considering the greatly inflated tech wages in top companies, aren't those layoffs alone likely to impact the US economy?
> While we’re making reductions in every organization across both Family of Apps and Reality Labs, some teams will be affected more than others. Recruiting will be disproportionately affected since we’re planning to hire fewer people next year. We’re also restructuring our business teams more substantially.
It's not all engineers let go.
Severance summary: Severance. We will pay 16 weeks of base pay plus two additional weeks for every year of service, with no cap. PTO. We’ll pay for all remaining PTO time. RSU vesting. Everyone impacted will receive their November 15, 2022 vesting. Health insurance. We’ll cover the cost of healthcare for people and their families for six months. Career services. We’ll provide three months of career support with an ex…
4 month's paid holiday? This is the kind of severance that would make me wish I'd been laid off.
> I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go _How_ does Meta have 85,000 employees? That's an _incredible_ size of an organisation.
So, after Twitter and Meta layoffs there will be around 15,000 people looking for the job. In one moment. With other layoffs it can be counted over 20,000 people IMHO. Will this over flood the market and bring expectations and salaries down?
Considering the greatly inflated tech wages in top companies, aren't those layoffs alone likely to impact the US economy?
Severance summary: Severance. We will pay 16 weeks of base pay plus two additional weeks for every year of service, with no cap. PTO. We’ll pay for all remaining PTO time. RSU vesting. Everyone impacted will receive their November 15, 2022 vesting. Health insurance. We’ll cover the cost of healthcare for people and their families for six months. Career services. We’ll provide three months of career support with an ex…
4 month's paid holiday? This is the kind of severance that would make me wish I'd been laid off.
Considering the greatly inflated tech wages in top companies, aren't those layoffs alone likely to impact the US economy?
> I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go _How_ does Meta have 85,000 employees? That's an _incredible_ size of an organisation.