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Meta lays off 11,000 people
311–320 of 1001 posts
Re: Meta lays off 11,000 people
#312Many many moons ago when i pointed out that FAANG are modern day fords and chryslers everyone thought i was exaggerating. Actually if you think about it they are in an even more precarious position as no one really _needs_ them and their popularity are a thing of fashion, and are far from too big to fail. Edit: Linkedin shows 300k jobs available in the us for the term "software engineer". I like to think and hope tha…
No way.
Apple, Microsoft, Amazon, they all have very good businesses with very concrete productivity bonuses and real world advantages that they give to people, you can't make those things disappear.
They also don't have good foreign competitors, like Chrysler and so on had in Japan.
There are Chinese companies, but those companies largely exist thanks to their state barring competition from the outside, and I don't see it being super likely that that is a real threat, especially because if Chinese companies really start taking off the United States government will clamp down on them hard.
I think these layoffs are more an example of just how crazy short-term we are thinking in the world. Everyone thought coal was going to go away, remote work was the future, tech jobs were the future!
In reality we need more productivity, less labor demand, and for our smartest people to be out working on those problems, not on delivering people advertisements.
All of these lay off people may end up out more distributed in the country working no boring jobs that ultimately free up butts and seats so that those butts can go take other seats for they are more necessary and important and productive.
Re: Meta lays off 11,000 people
#313So, 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?
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 reckon 11k would pretty well fill all the available tech roles in Czech Republic (which fits the "small Central European" description). God knows where they'd live though, rents + prices would explode
Re: Meta lays off 11,000 people
#314So, 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?
Shouldn't salaries just go down to pre-pandemic levels like the headcounts? (not even sure if they increased during the pandemic) According to the companies that's all that's happening here.
Lots of these peoples compensation package is largely equity based. Their pay has already taken a major hit.
Re: Meta lays off 11,000 people
#315Where would you advertise for ex-Meta or ex-Twitter developers?
lots of us read HN, so maybe in one of the usual hiring threads here
Re: Meta lays off 11,000 people
#316Earlier quoted context omitted.
At sone point “I take responsibility” came to mean nothing more than “My bad”. It’s as if the act of saying it was your fault is all that’s necessary. Ive noticed it used this way more and more, presumably as people realize it’s utility as a get of jail free card
Just months ago, "The Crying CEO" guy became a viral meme for expressing too much empathy in a layoff. It's fucking job terminations. You're GOING to be criticized no matter how you do them. The best approach is to just be robotic about it, and maybe throw in a platitude that amounts to, "It's not you, it's me" .
No, he was criticized for using it as publicity on LinkedIn.
Re: Meta lays off 11,000 people
#317I'm old and this is the third time around for these sorts of layoffs in tech. (Was around for dot-com bust of 2000-ish and financial meltdown post-2008.) One thing you want to keep in mind is that decent severance packages are usually only a thing for the FIRST round of layoffs. There will be more, and the payouts will be a LOT worse. Just, FYI.
This is going to be a repeat of 2000, not 2008. There's seemingly no contagion and no secular stagnation. This is just unwinding of the cheap money era that flowed overwhelmingly into SV. You'll see a cooling off of red hot compensation, a lot of failed startups that no one ever understood and the ongoing crypto crash. This may end up being enough to trigger a mild recession.
" mild recession"
If we're lucky
Re: Meta lays off 11,000 people
#318> I got this wrong, and I take responsibility for that. As always with these things, I wonder what taking responsibility actually means in practice. Businesses usually try to find ways to correct for major failures in decision making. In the case of Zuck, given his ownership, does anything actually happen or change? I'm sure his net worth has been reduced by changes to Meta's share price, but he was a multi-billionai…
That’s super pessimistic. What do you want him to say: “sucks all y’all lost your jobs but wasn’t my fault. Haha you’re unemployed now”. Like sure it’s not much, but without owning your mistakes how do you get better and improve to prevent them from repeating?
I'd like him to say words that have actual meaning, and not words that resemble meaning after being filtered by a PR consultant.
Re: Meta lays off 11,000 people
#319I 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.
AWS has the first mover advantage, Microsoft knows enterprise, Google has some awesome tech. I'm not sure what Meta could bring to the table?
Re: Meta lays off 11,000 people
#320> 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://…
OpenAI rephrase