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Meta plans thousands more layoffs as soon as this week

bloomberg.com

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Re: Meta plans thousands more layoffs as soon as this week

#161

Post by zpeti »

zmmmmm wrote: post #88

Two rounds of layoffs seems to say something that one round doesn't. You would expect that all things being equal there is never a scenario where it is better to do two cuts instead of just one. So why? a) things were much worse than realised. Maybe but it would have to be a big shock coming because Meta's general performance has held up OK, certainly nothing that would warrant this. b) HR reasons? some sort of requi…

D) with an organisation this size, it’s impossible to do the cuts once and for all the people you need to cut, because the communication and reporting lines will get completely disrupted. If they know they need to cut 20%, they can’t do that at once as the business would collapse. Doing 5% every quarter means there’s time to absorb the changes.

Re: Meta plans thousands more layoffs as soon as this week

#162

Post by b112 »

wincy wrote: post #125
shapefrog wrote: post #122

Earlier quoted context omitted.

It takes a certain kind of cold detatchment to hire 5,000-10,000 people to r&d and build the foundation of your next big thing - drain every ounce of life out of them then discard them on the heap a couple of years later.

The hundreds of thousands of dollars he paid every single one of them must have been just an awful experience for the people he “drained dry”.

Indeed.

These people all have 2+ years of build, tooling, dev experience in this newly emerging field. They did valuable work, it just did not hit market.

Anyone else in this space will be happy to snag them up.

Re: Meta plans thousands more layoffs as soon as this week

#163

Post by matthewdgreen »

throwawaylinux wrote: post #90
arda_demirtas wrote: post #76

Earlier quoted context omitted.

I hate the attitude, the language and the fact that these people are running this world. "Approved, you go ahead" Just drains my energy and hope for the future.

I think Musk is a breath of fresh air from the sterile, managed, corporate-speak drones. He already proved a lot of... "experts" wrong about the imminent implosion of twitter after he got rid of a bunch of people. I'm very interested to see how things go in the next few years. Here's his side of the story on that. https://twitter.com/elonmusk/status/1633011448459964417 I have worked in companies with a lot of dead wo…

Twitter sucks now. Even its boosters are using “the service didn’t permanently collapse within 80 days of settlement, see?” as their metric of its success.

Re: Meta plans thousands more layoffs as soon as this week

#164

Post by college_physics »

jackmott42 wrote: post #159

Back in ~2016 I deleted my Facebook account, because it was a horrible place that brought out the worst in people. A few days ago someone alerted me that my account was live again and posting weight loss scams. So I logged in and changed my password and deleted my account again. Facebook tells you that it will take 30 days to delete your account. This is obviously user hostile bullshit. Meanwhile somehow the scammer…

In the first instance you probably did not delete yor account, you just declared that you are deceased or some obfuscation of that sort (talking from personal experience - and I am not calling in from the dead yet 8-)

Re: Meta plans thousands more layoffs as soon as this week

#165

Post by b112 »

mschuster91 wrote: post #104
prox wrote: post #81

Earlier quoted context omitted.

So FB / Meta needs a new CEO ?

I'm usually not one to say companies shouldn't take on risks to expand into new business areas, particularly not in times where the core product is bleeding lucrative users... but here it's the same shit as with Twitter prior to Parag Agrawal's term or with Elon Musk's dozens of ventures. It's one thing and bad enough if board members have sometimes dozens of posts... but Zuckerberg, Musk, Dorsey all show it's not a…

And it's especially not good if they use company resources for their personal pet projects.

Good grief.

I guess if you are a CFO, or finance guy, sure.

But a "pet project" is conjoined with passion. And R&D, and testing the waters in other markets, is what causes true motivation.

People often complain that big corps can only innovate via acquisition. Yet, this comment is complaining that big corps are innovating by... startup methods!

For what does a startup do, other than live as the pet project of its founders?

We should encourage CEOs of large corps to go out on a limb, to R&D, to bring change to the market, to explore new growth streams.

Re: Meta plans thousands more layoffs as soon as this week

#166

Post by N19PEDL2 »

i67vw3 wrote: post #138
elforce002 wrote: post #132

Earlier quoted context omitted.

On Instagram: they'll discontinue ig live shopping, which is at least some good news. Fb: I've been out of it and the reality is millennials and gen z won't be joining it. They know that. Their only bet is to lobby congress to ban tiktok.

>Their only bet is to lobby congress to ban tiktok. Good point, the only way for 'Meta' shares to go up and for investors to have some confidence in 'Meta' is by Tiktok being banned in US (and other western countries like EU, Canada etc). Automatically, the advertising money which was to go to Tiktok will go to Instagram (via Reels).

It should also be said, however, that banning TikTok would set a dangerous precedent for Meta's business outside the US.

Re: Meta plans thousands more layoffs as soon as this week

#167

Post by wil421 »

vanilla_nut wrote: post #156
wil421 wrote: post #145

Earlier quoted context omitted.

It’s not operating very well. Multiple public outages each weeks, 40% drop in income, and people are literally sleeping in bathrooms.

[flagged]

I guess where you live. My utilities are top notch and just won awards for being the fastest to restore outages and provide reliable power.

Re: Meta plans thousands more layoffs as soon as this week

#168

Post by ejb999 »

johannes1234321 wrote: post #93
ivan_gammel wrote: post #89

Earlier quoted context omitted.

It may continue for another few weeks after „Stop engines“ signal is received, because recruiters still have their jobs and team leads will tell them: „Let’s keep recruiting funnel warm, while I’m checking if that signal really applies to us“. Until every team with an ambitious team lead is told that they are not special and they really should stop, they may still continue at least talking to people. And some may eve…

... and what else should recruiters do? Sit there do nothing and fear being cut? Better be able to show what a pipeline you have.

exactly, in my experience, HR departments (at least recruiters) are among the first to be fired when things turn down - who needs to pay recruiters if you aren't hiring? - much better if you are worried about your own job to keep busy, and advertise and interview people for non-existent jobs then to sit on your hands all day with nothing to do. Hopefully the 'keeping busy' will save your job, if your manager needs to pick from a few dozen recruiters which ones to toss and which to keep.

Re: Meta plans thousands more layoffs as soon as this week

#169

Post by mupuff1234 »

N19PEDL2 wrote: post #166
i67vw3 wrote: post #138

Earlier quoted context omitted.

>Their only bet is to lobby congress to ban tiktok. Good point, the only way for 'Meta' shares to go up and for investors to have some confidence in 'Meta' is by Tiktok being banned in US (and other western countries like EU, Canada etc). Automatically, the advertising money which was to go to Tiktok will go to Instagram (via Reels).

It should also be said, however, that banning TikTok would set a dangerous precedent for Meta's business outside the US.

Isn't Instagram already blocked in China?

Re: Meta plans thousands more layoffs as soon as this week

#170

Post by dao- »

Iolaum wrote: post #158
zmmmmm wrote: post #88

Two rounds of layoffs seems to say something that one round doesn't. You would expect that all things being equal there is never a scenario where it is better to do two cuts instead of just one. So why? a) things were much worse than realised. Maybe but it would have to be a big shock coming because Meta's general performance has held up OK, certainly nothing that would warrant this. b) HR reasons? some sort of requi…

Could it be that since Twitter hasn't collapsed yet people are trying to pull a Musk headcount-wise (albeit in a better executed manner) ?

> Could it be that since Twitter hasn't collapsed yet

As in it isn't done collapsing yet?

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