Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Meta tells staff it will cut 10% of jobs

bloomberg.com

Post reply on HN
Print view View original

211–220 of 923 posts

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

#211

Post by dackdel »

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?

found the ceo

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

#212

Post by LogicFailsMe »

renticulous wrote: post #80
voxl wrote: post #52

Earlier quoted context omitted.

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.

Money fills your Maslow. After that, you are responsible for your happiness. And there sure are a lot of rich people who aren't very happy.

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

#213

Post by rdevilla »

lbrito wrote: post #210
doublerabbit wrote: post #173

Earlier quoted context omitted.

> just need new Yahoos of 20s to pop up. I'm up for building this. What dinosaur languages should we code this in? erlang, tcl and perl?

Haskell!

Now that I think about it, the Haskell Report did come out in '98...

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

#215

Post by ghaff »

aprilthird2021 wrote: post #178
ghaff wrote: post #142

Earlier quoted context omitted.

The compensation of software tech (especially Silicon Valley) has also gotten much higher over the past number of years in the US compared to disciplines requiring the same level of education/experience both is the US and even Western Europe. I expect this will equalize with outsized tech salaries becoming a thing of the past except for a few individuals with proven track records.

I mean, the same can be said for consulting salaries, HFT salaries, hedge fund salaries, etc., which similar to software engineering only require a bachelor's and have a similarly grueling interview process. Why would this equalize? As long as software companies make huge profits and have growth capability which the top ones clearly do, what change would make this happen?

Some software companies are making huge profits today. Many software jobs are at companies making returns comparable to other engineering job profits. There's also a supply side. If the market is flooded with a lot of people in it mostly for the money, salaries will supposedly shrink.

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

#216

Post by [deleted] »

matchbok3 wrote: post #120
sdevonoes wrote: post #97

Earlier quoted context omitted.

You are normalising layoffs in companies that are not losing money. If you are a regular employee, this kind of behaviour affects you, but hereyou are saying “it’s alright folks, it’s just business “. Sure thing these kind of layoffs are not illegal, but there must be something else in life than raw corporate behaviour when it comes to work, don’t you think? The other scenario is that Meta doesn’t layoff people. The…

Layoffs mean a company doesn't have productive, profitable work for a set of people. The broader profitability of the entire company is entirely irrelevant. Should employee x subsidize employee y? That's nonsense. Should a company keep someone on payroll and have them do nothing until profit reaches 0?

[deleted]

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

#217

Post by whattheheckheck »

lotsofpulp wrote: post #144
smallmancontrov wrote: post #122

Earlier quoted context omitted.

Toxic = green brokerage accounts for those in charge

It would also be green for everyone else's brokerage account.

https://en.wikipedia.org/wiki/The_Ones_Who_Walk_Away_from_Om...

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

#218

Post by expedition32 »

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.

Do people in the US enjoy that kind of bullshit? I'm not saying we have to go back to the days when people worked for a company all their life. But this constant chaos, fear and looking at job offers can't be good for morale.

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

#220

Post by ModernMech »

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…

Facebook is of course a company that had ONE idea, which wasn't even original - trick people to use the service and then use their data in inappropriate ways. I believe their original business plan was "People just submitted it. I don't know why. They 'trust me'. Dumb fucks."

They scaled that idea, made a lot of money doing it because of course, bought up a bunch of companies who themselves had original and ethical ideas. But they were never allowed to shine brighter or step out of the shadow that is Facebook, who still believes their customers are "dumb fucks". That never changed and Facebook's current customers, employees, shareholders, and targets of acquisitions need to remember that and never kid themselves about who Facebook is.

Post reply on HN