291–300 of 1001 posts
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…
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.
Where would you advertise for ex-Meta or ex-Twitter developers?
Sorry for all the people who’ve lost their jobs, but I’m excited to see the awesome world-changing stuff they’ll make now that they’re not spending their time building FB/Instagram.
> 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://…
> 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…
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.
I'm close to deciding to go back to University to get some additional education that's likely to improve my work in the future. I can afford it without any salary. Based on your experience, do you think this is the right moment to do so? I'm employed at the moment.
If you're looking for income growth and are already in professional position making decent money it's almost never worth it to go back to school.
Honest question - what does 'take accountability' and 'take responsibility' actually look like for Zuckerberg here?
Honest question - what do you expect it to look like beside making the statement and giving employees a more than gracious severance package to back up the words?
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.
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.
You can't possibly know that. Try not to get caught up in your own speculation and speculation from pundits.