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Another Round of Layoffs at Meta

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Re: Another Round of Layoffs at Meta

#21

Post by hackernewds »

hnfong wrote: post #7
htag wrote: post #4

I 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 higher per year, but lower per hour of work.

IYKYK

Re: Another Round of Layoffs at Meta

#24

Post by abudabi123 »

ukuina wrote: post #2

From 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 som…

True talent will find a way to HP's former site now occupied by Tesla's Engineering HQ in Calif. Stay optimist.

Re: Another Round of Layoffs at Meta

#25

Post by [deleted] »

brucethemoose2 wrote: post #11

I would not invest in Meta's metaverse future. It feels like Windows Mobile. Meta has the early start, money, captive audience and enthusiasm, but they don't have the hardware/software edge (that Apple coincidentally also has this time around) to really make the idea work. The headsets are not going to revolutionize much running Facebook games on budget Qualcomm SoCs, and Facebook cant buy an Unreal Engine or an M2 P…

[deleted]

Re: Another Round of Layoffs at Meta

#26

Post by rvba »

lumost wrote: post #20
AlphaCharlie wrote: post #9

Earlier quoted context omitted.

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.

This is the case across most Big Tech. If not for compensation, why would you choose to work in a large organization? Tech productivity peaks somewhere around 500-2k engineers in an org, by the time you hit 10-50k different groups look like different companies in terms of coordination tax.

It is not so easy to get a (first) job in FAANG. They sieve out a lot of bad programmers during their recruitment process. Probably some recruiters beleive that if you managed to get to a FAANG and stay for 2-3 years, then you are competent enough for many other jobs. So in theory working there opens doors.

It used to be similar in finance, where getting that internship at Mckinsey/Bain/BCG or in BIG4 (deloitte, ey, kpmg, pwc) meant something - in some countries it was like 1000 candidates per 1 place. But I feel it is much fewer nowadays.

Re: Another Round of Layoffs at Meta

#27

Post by [deleted] »

brucethemoose2 wrote: post #11

I would not invest in Meta's metaverse future. It feels like Windows Mobile. Meta has the early start, money, captive audience and enthusiasm, but they don't have the hardware/software edge (that Apple coincidentally also has this time around) to really make the idea work. The headsets are not going to revolutionize much running Facebook games on budget Qualcomm SoCs, and Facebook cant buy an Unreal Engine or an M2 P…

[deleted]

Re: Another Round of Layoffs at Meta

#28

Post by hackernewds »

brucethemoose2 wrote: post #11

I would not invest in Meta's metaverse future. It feels like Windows Mobile. Meta has the early start, money, captive audience and enthusiasm, but they don't have the hardware/software edge (that Apple coincidentally also has this time around) to really make the idea work. The headsets are not going to revolutionize much running Facebook games on budget Qualcomm SoCs, and Facebook cant buy an Unreal Engine or an M2 P…

Facebook can, and still could totally buy Unity. This is something that they've discussed years before the pandemic or metaverse hype.

https://twitter.com/TechEmails/status/1619818349525086208?s=...

From internal emails from Zuck^. Also has a bonus glimpse into their VR/AR strategy

Re: Another Round of Layoffs at Meta

#29

Post by sm_1024 »

brucethemoose2 wrote: post #11

I would not invest in Meta's metaverse future. It feels like Windows Mobile. Meta has the early start, money, captive audience and enthusiasm, but they don't have the hardware/software edge (that Apple coincidentally also has this time around) to really make the idea work. The headsets are not going to revolutionize much running Facebook games on budget Qualcomm SoCs, and Facebook cant buy an Unreal Engine or an M2 P…

Latest qualcomm SoCs seem pretty competitive in mobile market (3d mark):

Snapdragon 8 Gen 2: 12726 (76 fps)

A16 Bionic: 9827 (58 fps)

https://nanoreview.net/en/soc-compare/qualcomm-snapdragon-8-...

Re: Another Round of Layoffs at Meta

#30

Post by hackernewds »

losvedir wrote: post #5

One 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.

The layoffs are nowhere near the level of even appearing in a histogram against the hiring that overwhelmed 2021/22. Where this doomering comes from must be the plain human temptation to glorify misery.
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