Meta lays off 11,000 people • Hacker News Board

Re: Meta lays off 11,000 people

#661

Post by maerF0x0 » Wed, Nov 09, 2022, 4:54 PM UTC

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?

August US added 315K jobs including 68K professional services and 7K information (idk what those categories actually mean).

There's jobs for everyone who was laid off, but unclear if they're as good/lucrative.

source: https://www.cnbc.com/2022/09/02/heres-where-the-jobs-are-for...

Re: Meta lays off 11,000 people

#662

Post by hardtke » Wed, Nov 09, 2022, 4:54 PM UTC

gonzo41 wrote: post #74

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?

It will have a big effect on salaries, however, it'd be a momentous opportunity for upcoming startups to pick up some bargain basement talent.

Even if not true (and it very well could be be true), most hiring managers will assume that the people let go were the low performers in their roles.

Re: Meta lays off 11,000 people

#663

Post by monktastic1 » Wed, Nov 09, 2022, 4:54 PM UTC

randomsearch wrote: post #323

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.

Do you think that great, world-changing, folks go to Facebook to sit on a big salary? if they were going to do something awesome they probably wouldn't have been working there. now, if google lay off a lot of people... that would be different

You may be thinking of the Google from 10+ years ago. I left all the way back in 2016 and the Alphabet transition had already turned it soulless. I've heard it certainly hasn't gotten better since.

Re: Meta lays off 11,000 people

#664

Post by Simon_O_Rourke » Wed, Nov 09, 2022, 4:54 PM UTC

I know a couple of my European friends were bitterly disappointed to be kept on, over there you get a nice little exit package mandated in law.

Re: Meta lays off 11,000 people

#665

Post by tyingq » Wed, Nov 09, 2022, 4:55 PM UTC

cableshaft wrote: post #408

discordance wrote: post #259

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."

For someone who barely ever worked an office job, Mike Judge is an expert at portraying office space.

There's an interview here that covers some of how it happened: https://www.theringer.com/movies/2019/2/19/18228673/office-s...

It does mention he worked for a military contractor, which probably provided an accelerated environment for learning corporate bs.

Re: Meta lays off 11,000 people

#666

Post by sytelus » Wed, Nov 09, 2022, 4:55 PM UTC

Meta is burning $10B/yr to build Metaverse. They are also loading up on massive debt. This is the part I don’t understand. Development is expensive but NOT this expensive! A back of the envelope calculation suggests that one can build an entire search engine infrastructure and product for the same price. Something like HoloLens from scratch would cost LESS than half of that price. A full competitive self driving E2E stack development will cost about half. Developing entire smartphone hardware and OS from scratch would cost about a third of that money. Moon worthy space rocket development will cost a tenth of this budget. One can do so much with $10B that it is absolutely mind blowing.

Re: Meta lays off 11,000 people

#667

Post by sumitgt » Wed, Nov 09, 2022, 4:56 PM UTC

obert wrote: post #645

The timing of the layoff, right before the holiday season, is especially harsh...

On the day after the US election as well. Great way to avoid making the headlines.

Re: Meta lays off 11,000 people

#668

Post by dolmen » Wed, Nov 09, 2022, 4:58 PM UTC

hbn wrote: post #420

> Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. 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 p…

Many thought that commerce was switching to online.

But in fact stores reopened and people went back to massively buy at stores instead of offline. Parenthesis is closed.

Re: Meta lays off 11,000 people

#669

Post by jollyllama » Wed, Nov 09, 2022, 4:58 PM UTC

It would be very interesting to see a breakdown of what % of Meta employees are remote, what % are not, and what % of each are laid off.

Re: Meta lays off 11,000 people

#670

Post by alasdair_ » Wed, Nov 09, 2022, 4:58 PM UTC

I worked at Facebook when covid first hit. Zuckerburg treated everyone in the company very, very well. There was a blanket "don't worry about performance, take care of your families" guarantee that honestly was an enormous help.

The thing that particularly struck me though was the way he handled contract workers like (some of) the kitchen staff, cleaners, etc. These people don't work for Facebook and he had zero obligation to them, yet he paid all of their wages for the full length of the pandemic just so they could stay afloat.

If it were just about the money, I doubt he'd have done this.