Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Meta lays off 11,000 people

about.fb.com

Post reply on HN
Print view View original

381–390 of 1001 posts

Re: Meta lays off 11,000 people

#381

Post by yarky »

pjmlp wrote: post #245
eschneider wrote: post #146

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 have been through a couple of merges and layoffs, it taught me that what matters is loyaty to the team, employer not so much.

Do you mind to elaborate a bit?

Re: Meta lays off 11,000 people

#382

Post by kadomony »

ericd wrote: post #284

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.

I mean, the "world-changing" stuff they're investing in is what directly led to this layoff. The metaverse was the most heavily impacted by these layoffs.

Re: Meta lays off 11,000 people

#383

Post by amusedcyclist »

mythhouse wrote: post #197
whatwherewhy wrote: post #52

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.

> I'd be very surprised if it saturated the US market in any measurable way. Most of meta enigneers won't be working for 120k midwest coding job if they can avoid it. So spread will be focused on similar pay positions vs distributed unifromly.

Going off the article it sounds like most of the layoffs are in business and recruiting so I suspect a small-ish fraction of the layoffs will be programmers

Re: Meta lays off 11,000 people

#384

Post by patentatt »

micromacrofoot wrote: post #352
paulcole wrote: post #322

Earlier quoted context omitted.

What would him taking responsibility in practice look like to you?

sacrificing some personal wealth for the good of the people that were affected

Yeah, he could easily bankroll a 36 month severance package or something similar. Like "sorry I fucked you right at the onset of a recession, here's a pile of cash to help you weather the storm." That would be actually taking responsibility

Re: Meta lays off 11,000 people

#385

Post by flakeoil »

maltelandwehr wrote: post #71
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?

If you include Stripe, Klarna, Netflix, Uber, Robinhood, Snap, Lyft, etc. tech layoffs in recent months have topped 100,000 now.

Add to that thousands of smaller companies laying of 10 people here, 100 people there. We will not hear about it, but it quickly adds up.

In addition, we go from a phase where people new in the job market (students etc) were being hired quickly to no one hiring them. So there are both laid off people and new entrants added to the pool.

Re: Meta lays off 11,000 people

#386

Post by sagebird »

sagebird wrote: post #376

Even though laid-off employees will lose access to Meta internal systems today, they are welcome to utilize Facebook services to stay connected to former colleagues, friends, and family members around the world. After all, it is Facebook’s mission to create a more connected world - and that will never change.

I just want to reassure everyone that while some things are changing, Facebook’s commitment to creating a more connected world is not going away. If anything, these changes will help Facebook reach that goal more effectively- and that’s something we can all be proud of. After all, as we continue to develop new features and products to better connect people from around the world, there are always going to be challenges but if we can stay more connected we will be able to handle them in a very connected way, I believe.

Re: Meta lays off 11,000 people

#387

Post by spaceman_2020 »

oblio wrote: post #70
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?

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.

Honestly, tech companies that were formed in the last decade have very little to show in terms of value creation. Majority are unprofitable. Most will never make profits in a recession AND tighter monetary environments.

At the end of the day, businesses have to generate profits. You can only defer that so long. And most tech companies have been deferring it for a decade now.

Post reply on HN