Why do people still have accounts on Twitter and Facebook already? Those reactionary billionaires are clearly offensive to humans and we should collectively tell them to f*ck off
Meta announces 5% cuts in preparation for 'intense year'
61–70 of 432 posts
Re: Meta announces 5% cuts in preparation for 'intense year'
#62Zuck is doing great things over there!
Re: Meta announces 5% cuts in preparation for 'intense year'
#63It seems Zuck is turning into Elon. What's next? closing the European offices? forcing people to return to the office? relocating HQ to Texas?
Trump's publicly proposed policies will have huge detrimental short-term economic impacts, so it's wise to prepare for a difficult time, IMO. If that's what's motivating the cuts, I think that's pretty rational.
Re: Meta announces 5% cuts in preparation for 'intense year'
#64It seems Zuck is turning into Elon. What's next? closing the European offices? forcing people to return to the office? relocating HQ to Texas?
As critical as I am of Zuckerbergs recent turn a 5% performance determined cut that will be backfilled is hardly the same as what Elon did
Re: Meta announces 5% cuts in preparation for 'intense year'
#65It sounds like they're laying off 5% of the company, but are also firing the lowest 5% of employees without eliminating the role.
> Meta is set to cut about 5% of its workforce, focusing on the company’s lowest-performing workers, CNBC confirmed Tuesday. > Another 5% of the 2024 employee base “who have been with the company long enough to receive a performance rating” will also be cut, Bloomberg reported, citing an internal memo.
And a direct quote from Zucky:
> I’ve decided to raise the bar on performance management and move out low performers faster. We typically manage out people who aren’t meeting expectations over the course of a year, but now we’re going to do more extensive performance-based cuts during this cycle, with the intention of back filling these roles in 2025.
Re: Meta announces 5% cuts in preparation for 'intense year'
#66Performance reviews are bullshit. Being a "low performer" at Meta might mean you are not a suck-up, or that you have a sense of ethics.
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Re: Meta announces 5% cuts in preparation for 'intense year'
#67Earlier quoted context omitted.
> closing the European offices? This is already in progress, they're closing UK offices extremely quickly.
Does anybody know why that is? I was under the impression UK staff are cheaper than US staff.
Peacocking for the new President’s agenda. No need to overthink it.
Re: Meta announces 5% cuts in preparation for 'intense year'
#68Part of Zucks plan to stop hiring mid-level engineers this year (as he said on JRE)? I am very very skeptical of this idea - what do you all think?
Who are we to doubt Zuckerbergs judgement when his last big pivot to the Metaverse was such a success? Let him cook. https://www.cnbc.com/2022/06/22/mark-zuckerberg-envisions-1-...
Zuck will demand accountibility from his employees while being subject to none himself because of the ownership structure of meta.
Re: Meta announces 5% cuts in preparation for 'intense year'
#69That is 5% of 67,317, around 3700 people, folks.
Re: Meta announces 5% cuts in preparation for 'intense year'
#70Earlier quoted context omitted.
My experience is that prices are increasing in required goods (food, housing, healthcare, education) so some people can't decrease spending. I know a lot of people who have cut spending for non-essential things but it's just that the cost of essential things have increased to keep their spending constant
This is the reason for the disparity. Low income people will swear on their life that we are in a recession, because they literally can't buy as much food as they used to be able to. But Middle-class -> rich people just point to the stock market and tell them they are wrong. This is a great time to be wealthy. All that juicy human labor is ripe for the taking.
The word 'recession' means something though, and it's neutral on whether or not any particular humans have more income or cheaper goods. If you get a raise at work, it doesn't mean we're not in an economic recession as a country, and if you get fired or the price of gas goes up, it doesn't mean we are.