Another Round of Layoffs at Meta
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Another Round of Layoffs at Meta
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Re: Another Round of Layoffs at Meta
#2From the blurb:
"Meta is planning another round of layoffs, I can unfortunately confirm. Leadership has been coy both internally and externally about what is coming, but I’m told that the current plan is to announce more cuts in March after last year’s performance bonuses are paid out. Given what I’ve heard about plans to cut certain orgs by double-digit percentages, I wouldn’t be surprised if the total number is somewhere in the ballpark of the last layoff, which was about 11,000 people or 13 percent of the company."
Re: Another Round of Layoffs at Meta
#3Facebook is copying the blue check thing from Twitter. I wonder if Zuck will also copy firing 75% of the staff.. lol.
Re: Another Round of Layoffs at Meta
#4I imagine Meta has a harder time recruiting then their peer companies, because of their reputation and the moral hazard. I wonder how much investment it will take them to get staff levels back to where they are now. It really feels like they are peaking as a company.
Re: Another Round of Layoffs at Meta
#5One round of layoffs at every company is just coming off the hiring bender of the last few years.
But a second... that portends a third... and a general collapse of tech a la the dotcom crash.
I had't been too worried yet, despite feeling lucky to have dodged the customary 7% at my company, but this news is starting to make me worry. Hopefully it's just Meta being in a uniquely bad position.
Re: Another Round of Layoffs at Meta
#6Feels like we are in the midst of a live experiment wherein we find out just how overstaffed tech companies are.
Re: Another Round of Layoffs at Meta
#7I imagine Meta has a harder time recruiting then their peer companies, because of their reputation and the moral hazard. I wonder how much investment it will take them to get staff levels back to where they are now. It really feels like they are peaking as a company.
Maybe this will be true in the years going forward, but AFAIK even in 2022 they were still considered top tier FAANG to work for among new grads, if only for the fact that compensation is generally somewhat higher than their peers.
Re: Another Round of Layoffs at Meta
#8cuts this big would have to be in the california WARN database. 0/10
Re: Another Round of Layoffs at Meta
#9I imagine Meta has a harder time recruiting then their peer companies, because of their reputation and the moral hazard. I wonder how much investment it will take them to get staff levels back to where they are now. It really feels like they are peaking as a company.
Maybe this will be true in the years going forward, but AFAIK even in 2022 they were still considered top tier FAANG to work for among new grads, if only for the fact that compensation is generally somewhat higher than their peers.
It's only higher than other big tech companies because they have so much difficulty hiring new grad. it's what's holding the funnel together, the moment comp drops compared to the others they will lose a ton of candidates.
Re: Another Round of Layoffs at Meta
#10I imagine Meta has a harder time recruiting then their peer companies, because of their reputation and the moral hazard. I wonder how much investment it will take them to get staff levels back to where they are now. It really feels like they are peaking as a company.
I guess they will stay with about 50k people with maybe barely modest growth in HC for many years to come.