241–250 of 1001 posts
I'm surprised they announced this on a prime news day, as oppose to Friday afternoon where less attention might have been given to it. (My heart goes out to all who lost their job. I'm wishing everyone well during these tough times.)
Earlier quoted context omitted.
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.
most of the people being laid off are not programmers
> 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://…
I do not believe the statement. Whatever the reasons were (and we can probably guess some of those), they probably spent significant effort to picture it in the most palatable way possible. My take would be: * They hired a lot of people in a short time and with this probably their productivity fell a lot. They want to remove ballast and hopefully improve average productivity. * They are scared about falling share pri…
I'm old and this is the third time around for these sorts of layoffs in tech. (Was around for dot-com bust of 2000-ish and financial meltdown post-2008.) One thing you want to keep in mind is that decent severance packages are usually only a thing for the FIRST round of layoffs. There will be more, and the payouts will be a LOT worse. Just, FYI.
Almost every 10+ years a mega company buys the company I'm working for and lays off everyone. The first time I stayed on and didnt take the layoff with my group, was going to merge into the new company. Then after a year, was let go and didnt get the big layoff package, then my manager left.
Totally screwed out of a major layoff package as it was a year later, way past the laws for mass layoffs, was a mistake to stay on, they kept me long enough they only had to let me go under new terms, then promptly closed the group (me and my manager). I was the most senior and long term employee, they saved a bucket load to screw me over.
I'm old and this is the third time around for these sorts of layoffs in tech. (Was around for dot-com bust of 2000-ish and financial meltdown post-2008.) One thing you want to keep in mind is that decent severance packages are usually only a thing for the FIRST round of layoffs. There will be more, and the payouts will be a LOT worse. Just, FYI.
As always with these things, I wonder what taking responsibility actually means in practice.
Businesses usually try to find ways to correct for major failures in decision making. In the case of Zuck, given his ownership, does anything actually happen or change? I'm sure his net worth has been reduced by changes to Meta's share price, but he was a multi-billionaire before and he still is now. Is that it?
Earlier quoted context omitted.
If you include Stripe, Klarna, Netflix, Uber, Robinhood, Snap, Lyft, etc. tech layoffs in recent months have topped 100,000 now.
Which is about how many people Google itself hired over the course of the Pandemic, for context. So it's not the end of the world. It really is a pretty minor set back so far.
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 got this wrong, and I take responsibility for that. As always with these things, I wonder what taking responsibility actually means in practice. Businesses usually try to find ways to correct for major failures in decision making. In the case of Zuck, given his ownership, does anything actually happen or change? I'm sure his net worth has been reduced by changes to Meta's share price, but he was a multi-billionai…
Honest question - what does 'take accountability' and 'take responsibility' actually look like for Zuckerberg here?