Does Facebook spend any sort of money on R&D? I just can't fathom a company that once had a near trillion dollar market cap, not spending any of their resources to try to find their next big revenue stream. They should have been able to pivot to a plan B, (or C,D,E... etc). If you point to their 3d ventures, well, I've never seen it in person, so they are doing a lousy job of marketing it.
Facebook reportedly laying off thousands of employees
11–20 of 403 posts
Re: Facebook reportedly laying off thousands of employees
#12amazon manager here: it's the same with us. our director gave told us to manage out more people this year to hit our revised headcount targets for next year. there are no layoffs, just larger-than-normal targets for managing out people. I talked with friends across various orgs and the targets seem to range between 10% to 25% for different teams (as opposed to 5% for normal years).
Re: Facebook reportedly laying off thousands of employees
#13It is sad but also was inevitable. The market could only sustain $150,000 a year salaries for grads fresh out of college for so long before someone somewhere along the way ran out of money. With rates going up there are places besides tech people can hope to park their money, the VC funding is going to disappear and with it some of the distortion of the market for developers. Just a reminder though this happened befo…
> The market could only sustain $150,000 a year salaries for grads fresh out of college for so long before someone somewhere along the way ran out of money. It seems a bit arbirtrary to pick high salaries as the reason for it. And to not blame spending billions on unprofitable projects like the metaverse, or having their profits affected by Apple's restrictions on tracking, or the steady decline in user experience. o…
Where does the budget for failed projects go? Server hardware? Think not. They go into paying exorbitant salaries (engineering and marketing).
Re: Facebook reportedly laying off thousands of employees
#14Does Facebook spend any sort of money on R&D? I just can't fathom a company that once had a near trillion dollar market cap, not spending any of their resources to try to find their next big revenue stream. They should have been able to pivot to a plan B, (or C,D,E... etc). If you point to their 3d ventures, well, I've never seen it in person, so they are doing a lousy job of marketing it.
What?! They built a phone, copied or bought every social media they could, invented lots of tech (DB, react-native…), they’re spending everything on the meta verse
That’s why they hired so many people
Re: Facebook reportedly laying off thousands of employees
#15Does Facebook spend any sort of money on R&D? I just can't fathom a company that once had a near trillion dollar market cap, not spending any of their resources to try to find their next big revenue stream. They should have been able to pivot to a plan B, (or C,D,E... etc). If you point to their 3d ventures, well, I've never seen it in person, so they are doing a lousy job of marketing it.
Google has been trying to diversify for over a decade. They are still mostly an ads company.
Re: Facebook reportedly laying off thousands of employees
#16amazon manager here: it's the same with us. our director gave told us to manage out more people this year to hit our revised headcount targets for next year. there are no layoffs, just larger-than-normal targets for managing out people. I talked with friends across various orgs and the targets seem to range between 10% to 25% for different teams (as opposed to 5% for normal years).
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Re: Facebook reportedly laying off thousands of employees
#17I’m not an expert at how facebook diversifies its income, but their R&D has produced a lot of insanely good outcome in engineering area. Meta ML, React, React Native, etc, howbare they not building income over these tools? Vercel or laravel seems to be making huge amount of money by building dev tools around their frameworks.
Regardless of what they have done, I hope everyone affected is okay
Re: Facebook reportedly laying off thousands of employees
#18amazon manager here: it's the same with us. our director gave told us to manage out more people this year to hit our revised headcount targets for next year. there are no layoffs, just larger-than-normal targets for managing out people. I talked with friends across various orgs and the targets seem to range between 10% to 25% for different teams (as opposed to 5% for normal years).
Amazon is a big company. Need to preface that with what department.
E.g. Alexa might be getting headcount trimmed. But other areas might see influx of investment. some Amazon teams had reduced PIP over the last year as well.
Re: Facebook reportedly laying off thousands of employees
#19It is sad but also was inevitable. The market could only sustain $150,000 a year salaries for grads fresh out of college for so long before someone somewhere along the way ran out of money. With rates going up there are places besides tech people can hope to park their money, the VC funding is going to disappear and with it some of the distortion of the market for developers. Just a reminder though this happened befo…
> The market could only sustain $150,000 a year salaries for grads fresh out of college for so long before someone somewhere along the way ran out of money. It seems a bit arbirtrary to pick high salaries as the reason for it. And to not blame spending billions on unprofitable projects like the metaverse, or having their profits affected by Apple's restrictions on tracking, or the steady decline in user experience. o…
Meta verse could be the next big thing and the long shot facebook needs.
It just happened that out of their control 1. Apple squeezed them out of ads revenue 2. Market went to shit
I hate Facebook as a company but I don’t see them making strategic mistakes…. Everyone is getting fired everywhere
Re: Facebook reportedly laying off thousands of employees
#20Does Facebook spend any sort of money on R&D? I just can't fathom a company that once had a near trillion dollar market cap, not spending any of their resources to try to find their next big revenue stream. They should have been able to pivot to a plan B, (or C,D,E... etc). If you point to their 3d ventures, well, I've never seen it in person, so they are doing a lousy job of marketing it.
RealityLabs is a $10billion initiative with only about $2 in revenue (Quest 2 headsets come from here).
RealityLabs Research is a large component and indeed the major R&D investment. This was spun out during the 2021Q4 earnings call when the different sectors of the company were reported separately for the first time, following the name change to Meta.