81–90 of 1001 posts
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?
Good. About time. $180K per employee for years is not sustainable. This is the general 'Tech Crash' I was talking about before all of this happened in advance. [0] [1] We'll see what happens after the news. No company is safe. Not even FAAMNG companies that HN has been screaming about for years was ever untouchable. [0] https://news.ycombinator.com/item?id=22663119 [1] https://news.ycombinator.com/item?id=29508238
Good. About time. $180K per employee for years is not sustainable. This is the general 'Tech Crash' I was talking about before all of this happened in advance. [0] [1] We'll see what happens after the news. No company is safe. Not even FAAMNG companies that HN has been screaming about for years was ever untouchable. [0] https://news.ycombinator.com/item?id=22663119 [1] https://news.ycombinator.com/item?id=29508238
Anyone can predict that things will be bad at some point in the future.
Good. About time. $180K per employee for years is not sustainable. This is the general 'Tech Crash' I was talking about before all of this happened in advance. [0] [1] We'll see what happens after the news. No company is safe. Not even FAAMNG companies that HN has been screaming about for years was ever untouchable. [0] https://news.ycombinator.com/item?id=22663119 [1] https://news.ycombinator.com/item?id=29508238
Who will pay these house prices?
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?
In the small central EU country where I live, that wouldn't even saturate the open programmer positions - just about 1/10 of it. I'd be very surprised if it saturated the US market in any measurable way. If anything this just means these people will be working on more different products, and that means more opportunities for even more programmers in the future.
If they're willing to move to anywhere in the US and/or take a 50+% pay cut then they'll have no problem getting a job. If they all want to stay where they are and get paid within 20% of their current salary then lots of people will end up without a job.
I agree. Two very different business responses between Musk and Zuck. I almost feel sorry for Zuck as we are witnessing meltdowns of two large companies in real-time. Musk just continues to dig his own grave… I feel bad for the ppl losing their jobs but that is a very generous severance package.
Zuck did it himself too. No one told him to go all-in on VR. No one. All he had to do was tackle payment and maybe cloud. He first went for crypto and then is in the process of failing with VR. Meta really needs to be in the cloud business.
The problem is that the way Meta runs its data centers and software stack is tightly integrated with the products. It’s not really amenable to running third party applications or storing third party data.
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.
Honest question - what does 'take accountability' and 'take responsibility' actually look like for Zuckerberg here?
This question comes up in every layoff thread. It doesn't mean "this will have negative consequences on me personally". It means "I don't blame anyone else for this".
The OP sounds like they would expect the person to perform some sort of public penance or resign. Which IMO is the wrong thing to do when making a mistake. The correct thing is to own up to your mistakes and hopefully learn from them.
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?
Obviously, if this continues at this rate. We'll be able to judge in 3-6 months the full impact. Anyone who tells you otherwise is living in Lalaland. The main thing is figuring out what's the full impact. If it's 10%+ of tech workers, the golden days are over for the vast majority of tech workers.
Proportionally these numbers would not make a difference in a small European country.