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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?
https://layoffs.fyi/
Genuinely curious why Meta (other big companies) hired so much during the pandemic? Did one companies make a strategic business decision to hire more based on project needs, and other companies followed on in a copy cat way? I guess maybe meta was thinking “VR will take off during pandemic and folks won’t be able to put the goggles back down ever”. I could see some companies copying it just to hedge against other com…
https://www.macrotrends.net/stocks/charts/GOOG/alphabet/numb...
Earlier quoted context omitted.
"Today, effective immediately, I, Gavin Belson, founder and CEO of Hooli, am forced to officially say goodbye to the entire Nucleus division. All Nucleus personnel will be given proper notice and terminated. But make no mistake. Though they're the ones leaving, it is I who must remain and bear the heavy burden of their failure."
SV from HBO I’d really something else
While many are commenting that these layoffs are sensible given the situation, I am fearful that laying off approximately 13% of Meta employees will lead to a less connected world. I don’t think people fully understand the magnitude of step-backwards it will be in terms of people connecting in this world. Does Zuckerberg take responsibility for what this will mean to people who simply need to connect more through gre…
I sense a deeply cynical and dismissive tone from many commenters and I sincerely wonder how many of you have given any honest thought to Facebook’s mission- or the many great products and features that support that mission. Given the importance of the mission, I find it hard to believe that cutting the workforce by 13% will have anything but dire consequences . Akin to the Middle Ages, or AI winter, humans will almost certainly suffer from being less connected. But what I haven’t heard is calls governments or ngos stepping in to provide funding to lighten the shockwaves of this disruption to connectivity. Surely, this must be considered. When comparing Meta’s mission to that of- say- automakers, or financial lending institutions- isn’t it clear that creating a more connected world should take priority?
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?
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.
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.
This was true during the .com bust, 2008 dip, and it will be true now.
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?
Very different roles. Also, corporate America employs millions of people, so this is not a significant percent.
I mean people who had financial gain on the line (like yourselves) pretended this was the case so you could cash in at the time and then pull the rug once it wasn't working any more (as you're doing now), but everyone with half a brain knew it wasn't sustainable.
Literally how could that acceleration be permanent? With the insane exponential growth inflated by covid in 2020/2021, you'd have a few years before these big tech companies would have to be gaining more users than exist on earth.