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Meta lays off 11,000 people

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Re: Meta lays off 11,000 people

#91
post #27

> 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.

My experience -- having been near the top of organizations with standard politics -- is that one of the goals of every executive is to maximize headcount. For example, if I am managing 100 people, I am far better off than if I am managing 10 people, doing the exact same thing. I will be able to step into better, higher-paying roles if I have experience managing large headcount. My salary will be higher, and I'll have more status in my current organization too.

Most problems are better-solved by small teams, but that's usually not how incentives align.

Above some level in the corporate ladder, executives understand these games and play them completely cynically. It's easy to become a manager without this. You don't get to be in the C-suite at 10,000 person firm without playing these games near-optimally.

Note that this is not the only part of the corporate ladder game. Other parts may keep this (somewhat) in check, so you usually don't have completely pointless 5,000 person divisions your local supermarket branch.

They do less well for keeping this in check at monopoly-profit firms like Meta. In monopoly-driven firms, it's really easy to start politically-popular pointless units (I suspect, in this case, a skunkswork, forward-thinking division engaged in something with no real corporate value, so long as it aligns well with a buzzwordy-topic like AI/DEI/VR/etc.).

Re: Meta lays off 11,000 people

#92
post #27

> 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.

They do a lot!

Most employees aren’t technical. Lots of HR, Accountants, sales, recruiters, etc.

Maybe 1/2 of people are in tech-ish roles, across 5 major orgs, that’s maybe 8k per major org.

Maybe half of those are coding (not management, PMs, etc). Half of those are non-support/infra. Maybe half of those are doing development work just to deal with tech debt.

Take FB itself, that’s maybe 10 major products - so something like “News Feed” might have 100 eng headcount (10-20 teams) doing anything at all new on that product.

That feels like a reasonable number to me, but idk.

Re: Meta lays off 11,000 people

#95
post #32

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?

[deleted]

Re: Meta lays off 11,000 people

#96
post #70

Earlier quoted context omitted.

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.

I wonder if comments like yours are said in good faith or in fear or out of pure ignorance. Or all of the above combined. Proportionally these numbers would not make a difference in a small European country.

These numbers are just the start of the avalanche... There have been a lot of pie-in-the-sky initiatives, especially as the result of the massive cash infusions during Covid.

Now all that easy money is going away.

The current numbers don't mean much, but they're just the start.

Re: Meta lays off 11,000 people

#97
post #69

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.

How would Meta win in the cloud business though?

Re: Meta lays off 11,000 people

#99
post #17

Quite a difference between this message and the one Twitter (i.e. Elon Musk) sent to its employees.

It would be truly horrible if someone in the "life's achievement" position of Zuckerberg would layoff with communication similar to what as a hostile takeover daredevil would do, and it would be truly pretentious if a hostile takeover daredevil like Musk would layoff with communication mimicking that of a "life's achievement" builder. Both are avoiding the worst options.

Re: Meta lays off 11,000 people

#100
post #41

> At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected. This is very similar to the Stripe layoff memo at https://…

Probably same PR company or law firm
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