Meta lays off 11,000 people • Hacker News Board

Re: Meta lays off 11,000 people

#221

Post by rouxz » Wed, Nov 09, 2022, 12:28 PM UTC

tifadg1 wrote: post #137

whatwherewhy wrote: post #52

Earlier quoted context omitted.

In the small central EU country where I live, that wouldn't even saturate the open programmer positions - just about 1/10 of it. I'd be very surprised if it saturated the US market in any measurable way. If anything this just means these people will be working on more different products, and that means more opportunities for even more programmers in the future.

I'm quite interested in learning which small central EU country has 150k outstanding programming jobs.

Nobody said a word about programming jobs being outstanding lol

Re: Meta lays off 11,000 people

#222

Post by brailsafe » Wed, Nov 09, 2022, 12:29 PM UTC

tumetab1 wrote: post #182

sidcool wrote: post #56

As much as I dislike Meta's practices, this was well handled. Decent severance and support.

Allowing access to email until the end of day also seems an improvement over other US companies practices > We made the decision to remove access to most Meta systems for people leaving today given the amount of access to sensitive information. But we’re keeping email addresses active throughout the day so everyone can say farewell.

This is why you need real friends outside your workplace. When you get shoved out the door, at most your get the afternoon to be like "lets keep in touch!"

Re: Meta lays off 11,000 people

#223

Post by habibur » Wed, Nov 09, 2022, 12:30 PM UTC

dustedcodes wrote: post #170

Did they hire 11k people during the pandemic? If not then the given reason for the layoffs are clearly not the full story.

Head count had been around 40k in 2019.

Re: Meta lays off 11,000 people

#224

Post by Hackbraten » Wed, Nov 09, 2022, 12:33 PM UTC

I’m feeling sorry for everyone affected.

Let’s hope that this isn’t going to impact Buck [0] too much. It’s one of the best things Facebook has ever made.

[0]: https://github.com/facebook/buck/tree/dev

Re: Meta lays off 11,000 people

#225

Post by theCrowing » Wed, Nov 09, 2022, 12:33 PM UTC

tifadg1 wrote: post #137

whatwherewhy wrote: post #52

Earlier quoted context omitted.

In the small central EU country where I live, that wouldn't even saturate the open programmer positions - just about 1/10 of it. I'd be very surprised if it saturated the US market in any measurable way. If anything this just means these people will be working on more different products, and that means more opportunities for even more programmers in the future.

I'm quite interested in learning which small central EU country has 150k outstanding programming jobs.

If you come from FANG and you are good you can basically walk into a german tech place or even car manufacturers and get hired on the spot.

Re: Meta lays off 11,000 people

#226

Post by cdiddy2 » Wed, Nov 09, 2022, 12:34 PM UTC

lvl102 wrote: post #69

CarbonCycles wrote: post #51

I agree. Two very different business responses between Musk and Zuck. I almost feel sorry for Zuck as we are witnessing meltdowns of two large companies in real-time. Musk just continues to dig his own grave… I feel bad for the ppl losing their jobs but that is a very generous severance package.

Zuck did it himself too. No one told him to go all-in on VR. No one. All he had to do was tackle payment and maybe cloud. He first went for crypto and then is in the process of failing with VR. Meta really needs to be in the cloud business.

Their payment attempt was stifled by regulators though. I wonder where they would be at if they had launched Diem instead of shutting that down

Re: Meta lays off 11,000 people

#227

Post by [deleted] » Wed, Nov 09, 2022, 12:34 PM UTC

pmontra wrote: post #41

> At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected. This is very similar to the Stripe layoff memo at https://…

[deleted]

Re: Meta lays off 11,000 people

#228

Post by muro » Wed, Nov 09, 2022, 12:34 PM UTC

matwood wrote: post #181

rvz wrote: post #50

Good. About time. $180K per employee for years is not sustainable. This is the general 'Tech Crash' I was talking about before all of this happened in advance. [0] [1] We'll see what happens after the news. No company is safe. Not even FAAMNG companies that HN has been screaming about for years was ever untouchable. [0] https://news.ycombinator.com/item?id=22663119 [1] https://news.ycombinator.com/item?id=29508238

> $180K per employee for years is not sustainable. By what metric? Metas profits the first 3Qs of the year totaled ~$17B. They would have been higher if not for Zuck's insane spending on the metaverse. As the letter says, Meta clearly over hired around covid to the tune of 30k+ people. It's normal to pull back some. Engineers at these companies generate so much economic value, I would argue they are still underpaid a…

Wrong CEO :)

Re: Meta lays off 11,000 people

#229

Post by alberth » Wed, Nov 09, 2022, 12:35 PM UTC

I'm surprised they announced this on a prime news day, as oppose to Friday afternoon where less attention might have been given to it.

(My heart goes out to all who lost their job. I'm wishing everyone well during these tough times.)

Re: Meta lays off 11,000 people

#230

Post by mrits » Wed, Nov 09, 2022, 12:36 PM UTC

KptMarchewa wrote: post #58

nokeya wrote: post #32

So, after Twitter and Meta layoffs there will be around 15,000 people looking for the job. In one moment. With other layoffs it can be counted over 20,000 people IMHO. Will this over flood the market and bring expectations and salaries down?

Very different roles. Also, corporate America employs millions of people, so this is not a significant percent.

Also a lot of those people are going to take time off. A large number of high earners that have worked at a place for a decade and now have ~9 months paid vacation.