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Meta tells staff it will cut 10% of jobs

bloomberg.com

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Re: Meta tells staff it will cut 10% of jobs

#11

Post by shmatt »

if you've ever been through a Meta loop (and their method is to cast an extremely wide net, so chances are you have), you've seen how inefficient their loop can be for long term success

6-7 38* minute interviews, while the interviewee is trying to squeeze in showcasing their skills and experience, the interviewer is obsessed with figuring out a rigid set of pre-determined "signals"

Once these candidates actually start work, their success in the team is a complete coinflip

* 38 minutes = 45 minute scheduled - 2 minute intro - 5 minute saved for candidate questions at the end

Re: Meta tells staff it will cut 10% of jobs

#14

Post by oytis »

krapp wrote: post #9
shimman wrote: post #7

[flagged]

>All the more reason why we need workplace democracy. The elites clearly do not know how to run a business and the economy is the final frontier for democracy to expand into. One might almost say workers should... own the means of production?

Every programmer owns the means of code production (unless they forgot how to code without Claude). Turns out it's not necessarily enough to make money.

Re: Meta tells staff it will cut 10% of jobs

#15

Post by PunchyHamster »

reconnecting wrote: post #3

Given the same trend at Oracle and Amazon (1), it seems large corporations are cutting costs ahead of bad news... and that news isn't about AI.

It is about AI. The news is "the AI is far less monetarily lucrative endeavour than we thought but don't worry, we already fired enough people to compensate for the loss"

Re: Meta tells staff it will cut 10% of jobs

#18

Post by jerkstate »

krapp wrote: post #9
shimman wrote: post #7

[flagged]

>All the more reason why we need workplace democracy. The elites clearly do not know how to run a business and the economy is the final frontier for democracy to expand into. One might almost say workers should... own the means of production?

The means of production are for sale, they can own them if they want!

Re: Meta tells staff it will cut 10% of jobs

#20

Post by trjordan »

It's an honest surprise that this isn't spun as "internal AI efficiency gains." They want the efficiency, of course there's AI component, but they're not pre-claiming victory. Neat.

It's worth remembering that there's an _actual_ underlying economic problem here. Interest rates are up. AI spending is expensive. A dollar invested in a company needs to do _more_ than it did 5 years ago, relative to sitting in treasury bills. And Meta isn't delivering on that right now.

But IMHO: that's no excuse. This is admitting defeat, deciding to push the share price higher while they give up. Meta has the user data, the AI ambitions, the distribution, and the brand.

They could do anything, and the world is re-inventing itself. They're ... laying off people, maximizing profits, and giving up.

Cowards.

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