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Meta lays off 11,000 people

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Re: Meta lays off 11,000 people

#161

Post by pyb »

pmontra wrote: 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://…

This layoff almost sounds like an opportunistic decision, rather than something that was planned long in advance.

Re: Meta lays off 11,000 people

#162

Post by pimbrah »

jannes wrote: post #152
nokeya wrote: 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?

Shouldn't salaries just go down to pre-pandemic levels like the headcounts? (not even sure if they increased during the pandemic) According to the companies that's all that's happening here.

salaries rarely and hardly ever go down. however inflation does exactly that in real terms. This is an interesting article about it: https://www.interfluidity.com/v2/9566.html

Re: Meta lays off 11,000 people

#163

Post by wooger »

nixcraft wrote: post #46

All social media companies hire too many folks and now cutting expenses to meet their target for shareholders. Yet, only Twitter seems to get lots of backslashes compared to other FANGS. Why? I wonder if this relates to Elon Musks' ongoing outbursts on Twitter regarding his political and other conservative views. I believe I answered my own questions. Ha!

You think twitter is in FAANG?

Re: Meta lays off 11,000 people

#165

Post by marcus_holmes »

nokeya wrote: 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?

I remember the dot-com (and Y2K) bust, when all the people who got into tech for the money (and not the love of it) suddenly decided to switch career. I hope the same happens now.

Re: Meta lays off 11,000 people

#166

Post by chank »

lafreb wrote: post #116
pmontra wrote: 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://…

Not only the structure, the wording is also identical: "Today I’m sharing some of the most difficult changes we’ve made in Meta’s history." "Today we’re announcing the hardest change we have had to make at Stripe to date." "At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth." "At the outset of the pandemic in 2020, the world rotated overnight towards e-com…

Layoffs have become so normalized these days, I'm sure they have templates.

Re: Meta lays off 11,000 people

#167

Post by willis936 »

nomilk wrote: post #147

> the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected What's "ads signal loss"? Is that iPhone asking for permission to track activity across apps, causing less accurate ad placement?

It could mean people left after the re-brand.

Re: Meta lays off 11,000 people

#168

Post by [deleted] »

nibbleshifter wrote: post #154
pmontra wrote: 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://…

> Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended Who predicted this? The general consensus among folks I know was that the economy was in for an ass blasting once the pandemic supports were removed.

[deleted]

Re: Meta lays off 11,000 people

#169

Post by hiyer »

lafreb wrote: post #116
pmontra wrote: 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://…

Not only the structure, the wording is also identical: "Today I’m sharing some of the most difficult changes we’ve made in Meta’s history." "Today we’re announcing the hardest change we have had to make at Stripe to date." "At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth." "At the outset of the pandemic in 2020, the world rotated overnight towards e-com…

Startup idea - layoff mail generator using GPT-3.
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