Alright people the talent pool just got more fish. Go get 'em!
Meta lays off 11,000 people
481–490 of 1001 posts
Re: Meta lays off 11,000 people
#482"We’ve shifted more of our resources onto a smaller number of high priority growth areas [like] our long-term vision for the metaverse" Imagine laying off eleven thousand people so you can keep clinging to the disintegrating corpse of the metaverse.
I’d feel pretty embarrassed right now to be working in VR at meta while seeing coworkers getting laid off.
Re: Meta lays off 11,000 people
#483A lot of people are spouting doom and gloom for the entire industry, but I feel like Facebook had this coming. Especially since they lost billions in Meta.
It seems to me that there are a lot of software jobs out there, and companies can’t seem to find enough people. But that said, I’m sure the story is probably different in Silicon Valley
Re: Meta lays off 11,000 people
#484The world runs on certain types of software. I doesn't run on social media, or video streaming, or "AI/ML", or search. So it doesn't actually run on FAANG companies. It is no surprise they are shedding workers when the free money runs out. But if you are willing to work on "boring software" that provides actual economic value - logistics, HR/Payroll, or really anything people actually pay to use because it boosts the…
Facebook (and Google Search) are the most widely used software on Earth, ~3-4B MAUs each. I don't know what else something needs to do to qualify for "world runs on [it]".
Re: Meta lays off 11,000 people
#485Sorry 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.
FB still making 4Billion in profit, all the comments here dont seem to talk about that Twitter wasnt profitable, FB is and laid off 4x the amount of employees, Zuck just saw Musk do it and thought itd be a perfect time while the attention is on Musk and Twitter, that letter Zuck wrote is sick and sounds like its written by a sad emotionless robot he brags about how profitable Meta is in that letter its pathetic, remi…
I mean meta is a business, not a charity. They’re not going to employee people who aren’t furthering the mission.
Re: Meta lays off 11,000 people
#486[deleted]
Re: Meta lays off 11,000 people
#487Yeesh. Was planning on returning to tech work after a couple year hiatus in a couple months. Between this and twitter there may be some competition (:
Re: Meta lays off 11,000 people
#488So, 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?
There are hundreds of thousands of new software jobs in the US every year. Way more globally. This is a drop in the bucket.
Shit, I get messaged about a thousand software jobs per year and I'm just one guy.
Re: Meta lays off 11,000 people
#489> 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…
They claimed their monthly, daily, and total engagement are all up in this quarters earnings. Ads shown up 17% price per ad down 18%. Doesn’t seem like losing users.
Re: Meta lays off 11,000 people
#490"We’ve shifted more of our resources onto a smaller number of high priority growth areas [like] our long-term vision for the metaverse" Imagine laying off eleven thousand people so you can keep clinging to the disintegrating corpse of the metaverse.
I wonder if no-one from higher-ups in Meta tell Zuckerberg that it is not going to happen and explain to him what sunk cost fallacy is.
Anyone who says that to him will get fired, and that makes sense: In his mind, if you don't believe the vision that he's going all in in, then you're just detracting.