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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

#71

Post by sdevonoes »

matchbok3 wrote: post #59
trjordan wrote: post #20

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…

Layoffs are a very normal thing for businesses to do. There is nothing "cowardly" about it. Would you rather them never hire them in the first place?

With that kind of mindset… man, so sorry for you

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

#72

Post by simmerup »

thewebguyd wrote: post #47
swader999 wrote: post #37

Earlier quoted context omitted.

I'm guessing a lot of these large companies will have massive layoffs followed by slightly less massive re-hiring in 6 to 18 months.

Correction, the layoffs will be followed by massive re-hiring overseas in 6 to 18 months. The domestic jobs aren't coming back.

AI: actually an indian

Seen in foreign workers remote driving ai cars, foreign workers training ai robots, etc etc

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

#73

Post by JeremyNT »

swader999 wrote: post #37
trjordan wrote: post #20

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…

I'm guessing a lot of these large companies will have massive layoffs followed by slightly less massive re-hiring in 6 to 18 months.

Not buying it personally, I think this is the start of a slow unwinding.

AI won't replace everybody overnight, but it'll make 10% layoffs year after year a real possibility.

Either people are simply made redundant because bots in the hand of a bot wrangler can do much of their work, or people are relatively less efficient than their peers because they refuse to adapt to a world where AI is a force multiplier.

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

#74

Post by kbar13 »

thewebguyd wrote: post #47
swader999 wrote: post #37

Earlier quoted context omitted.

I'm guessing a lot of these large companies will have massive layoffs followed by slightly less massive re-hiring in 6 to 18 months.

Correction, the layoffs will be followed by massive re-hiring overseas in 6 to 18 months. The domestic jobs aren't coming back.

why do we feel that way? it's becoming more and more likely that developments in AI lead to a K graph in experience / value - senior / self sufficient workers will be significantly more valuable than ever.

unless you mean that the quality of domestic workers is declining, which i'd agree in most things (tho for some things like software i think still has a chance)

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

#75

Post by bellowsgulch »

matchbok3 wrote: post #59
trjordan wrote: post #20

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…

Layoffs are a very normal thing for businesses to do. There is nothing "cowardly" about it. Would you rather them never hire them in the first place?

That does tend to be the more experienced management decision among firms who survived through the dot-com bubble.

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

#76

Post by sdevonoes »

BurningFrog wrote: post #43
Ancalagon wrote: post #4

Re: > If America’s so rich how’d it get so sad > https://www.derekthompson.org/p/if-americas-so-rich-howd-it-...

It's well known since ancient times that money doesn't buy happiness.

And little money buys even less. What’s your point?

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

#77

Post by matchbok3 »

sdevonoes wrote: post #71
matchbok3 wrote: post #59

Earlier quoted context omitted.

Layoffs are a very normal thing for businesses to do. There is nothing "cowardly" about it. Would you rather them never hire them in the first place?

With that kind of mindset… man, so sorry for you

Care to explain? Rather than these jugemental one-offs?

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

#79

Post by kakacik »

PunchyHamster wrote: post #15
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"

... the just around the corner syndrome. And when new quite capable model comes, prices triple in 6 months like with chatgpt 5.5 now and they are still losing on it. Soon, hiring that junior will be cheaper than monthly subscription. I am struggling to imagine ie some big bank willing to invest just for this say 50 millions a month.

Then within few years, when the amount of bugs in quickly produced software skyrockets and it will be extremely hard to debug that code by hand, market will change again. These llms will find their solid place but not at current projection/investment wishful thinking. And definitely not for software that is continuously developed, changed and fixed for decades (which is default for most corporate apps, be them internal or vendor ones).

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

#80

Post by renticulous »

voxl wrote: post #52
BurningFrog wrote: post #43

Earlier quoted context omitted.

It's well known since ancient times that money doesn't buy happiness.

And it only takes an ounce more wisdom to recall this phrase: "Money can't buy happiness, but it helps."

Money buys you Freedom. A much more general category theory type framing.
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