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Meta plans thousands more layoffs as soon as this week

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Re: Meta plans thousands more layoffs as soon as this week

#141

Earlier quoted context omitted.

I think Musk is a breath of fresh air from the sterile, managed, corporate-speak drones. He already proved a lot of... "experts" wrong about the imminent implosion of twitter after he got rid of a bunch of people. I'm very interested to see how things go in the next few years. Here's his side of the story on that. https://twitter.com/elonmusk/status/1633011448459964417 I have worked in companies with a lot of dead wo…

Are you somehow unaware of the regular reliability issues (6 incidents in 2023 alone), downtime, collapse in revenue, advertisers erosion of trust, etc? Personally, I couldn't classify that as 'operational' - but maybe I just have high standards and expectations

I don't use twitter much but I've always found it quite incredibly unreliable (for what it is and how many engineers they had working on it). Something was always "going wrong" with it. I haven't actually noticed any difference post-Musk. I'd easily believe if you pulled up stats showing it did get worse, there's simply been nothing you'd call an implosion of the service. It used to kind of work most of the time, and it still does.

I haven't really looked at financials. It's never been what you'd call healthy though, sans SV-bubble. I have heard they lost a lot of revenue since Musk took over but I'd imagine there has been a collapse in opex too so it's difficult to judge that one way or the other.

As for trust, I think a lot has been gained as well due to more transparency about their involvement with government censorship programmes. Again hard to really chalk that up one way or the other.

I'm not saying Twitter has suddenly become the golden goose under Musk, or that no technical operational aspect of it suffered after laying off 80% of their staff though, so this doesn't really address my point. My point is Twitter must have had a vast amount of positions that were not providing value and its actually refreshing to see a CEO go in and ask people to explain what they do, take bold action, and take ownership of those decisions.

The meek, managed, MBA, CEO style is to release a canned statement saying how sorry they are and how horrible they feel, and delegate salary or head count reductions down the line which actually doesn't help much with the dead wood situation and can even entrench it because they're often in lower level executive positions themselves.

My company has recently been through a round of these job cuts and we fired good, productive, very long term experts and immediately had to move people in other places to fill their exact positions (badly, because they barely worked with that code before and have to learn it all). Why? Because they worked in different branches of the organization. They fall under different VPs, and the edict said that everybody had to trim X%. It had nothing to do with what work they did, targets had to be hit so they had to go.

I would have killed to be able to take it to the CEO and be asked to explain what those people did to justify why they should stay on. That's why I find Musk a breath of fresh air. Not because he posts infantile memes on twitter or is rude to employees -- I don't think that twitter convo was very tasteful, he could certainly stand to improve how he goes about things. I just think his approach to running companies has some merit.

Re: Meta plans thousands more layoffs as soon as this week

#142
post #118

Earlier quoted context omitted.

> What a crazy move. Not at all! Done right, we could have ended up in a sci-fi future strapped to our VR headsets all day long. But the real life, physical technology is just not here yet (maybe it's impossible and never will be), the software they invented for their lacking headsets is disgustingly bad (Horizon Worlds) and there is no nameworthy content. I assume his advisors and tech leads all pulled the wool over…

> Done right, we could have ended up in a sci-fi future strapped to our VR headsets all day long When I read this phrase, the spaceship from Wall-E comes to mind. But in reality, it would probably look a little bit more dystopian than what Pixar imagined...

https://youtu.be/67sfZfreOrU

Re: Meta plans thousands more layoffs as soon as this week

#143

many industries (legal etc) were more productive during covid (WFH), wondering if employee productivity analysis over the lockdown period led to drastic staff reduction. makes little-to-no sense otherwise to lay off staff en mass as the economies open up, takes ages to re-hire. look at Aviation or Hospitality industries, how they struggled to rehire to keep-up with customer demand when lockdown ended.

> look at Aviation or Hospitality industries, how they struggled to rehire to keep-up with customer demand when lockdown ended.

These are low pay, low quality of life jobs, so not comparable to a job at a major software business where you will likely earn multiples of the median income.

Re: Meta plans thousands more layoffs as soon as this week

#144
post #23

Earlier quoted context omitted.

Sounds like a band-aid on a gaping wound.

But is it really? Or did a combination of COVID-tech-mania and low interest rates just boost stock prices well above what was actually reasonable?

The differed is Meta’s potential as perceived by the markets has dropped relative to Apple/Microsoft/Google/Amazon. Previously, those 5 were all viewed as having the sky as the limit, but now there are clear differences in expectations.

There is Apple/Microsoft, then Google/Amazon, then a ways down is Meta.

Re: Meta plans thousands more layoffs as soon as this week

#145

Earlier quoted context omitted.

I hate the attitude, the language and the fact that these people are running this world. "Approved, you go ahead" Just drains my energy and hope for the future.

I think Musk is a breath of fresh air from the sterile, managed, corporate-speak drones. He already proved a lot of... "experts" wrong about the imminent implosion of twitter after he got rid of a bunch of people. I'm very interested to see how things go in the next few years. Here's his side of the story on that. https://twitter.com/elonmusk/status/1633011448459964417 I have worked in companies with a lot of dead wo…

It’s not operating very well. Multiple public outages each weeks, 40% drop in income, and people are literally sleeping in bathrooms.

Re: Meta plans thousands more layoffs as soon as this week

#146

Earlier quoted context omitted.

He must regret daily going for Metaverse. What a crazy move.

I love it when megacorps misinvest billions. Opens space for a competition that didn't.

It's actually kind of amazing that there's not any real consequence to making that bad call. It sucked up a lot of energy, lots of people tried to stake and early adopter position in the metaverse and it turns out everyone just didn't want that.

I think they could have made more money if they built games into facebook. At probably a fraction of the cost really.

Re: Meta plans thousands more layoffs as soon as this week

#147

Earlier quoted context omitted.

Yes they do. The trick is not throwing out the baby with the bath water. Elon Musk got a lot of criticism for how he handled layoffs at Twitter. But he did provide clarity and then ripped off the band aid. Notice how things have gone quiet around Twitter lately. IMHO, it wasn't nice but what remains is probably a healthier organization and a fairly stable team. A lot of people left in the process and that was always…

> Notice how things have gone quiet around Twitter lately. This was today: https://twitter.com/iamharaldur/status/1632843191773716481

Seems expected that he was fired. Elon is firing anyone who doesn't write code. He doesn't seem to be writing code, just a manager.

Re: Meta plans thousands more layoffs as soon as this week

#148
post #88

Two rounds of layoffs seems to say something that one round doesn't. You would expect that all things being equal there is never a scenario where it is better to do two cuts instead of just one. So why? a) things were much worse than realised. Maybe but it would have to be a big shock coming because Meta's general performance has held up OK, certainly nothing that would warrant this. b) HR reasons? some sort of requi…

Never attribute to [whatever] that which is adequately explained by stupidity.

Re: Meta plans thousands more layoffs as soon as this week

#149
post #88

Two rounds of layoffs seems to say something that one round doesn't. You would expect that all things being equal there is never a scenario where it is better to do two cuts instead of just one. So why? a) things were much worse than realised. Maybe but it would have to be a big shock coming because Meta's general performance has held up OK, certainly nothing that would warrant this. b) HR reasons? some sort of requi…

Hoping one round, RTO, etc. would lead to more folks naturally leaving and not needing to do a second round (to save on severance and PR).
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