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Meta tells staff it will cut 10% of jobs

bloomberg.com

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

#491

Post by moosedev »

ekropotin wrote: post #411
doublerabbit wrote: post #325

Earlier quoted context omitted.

Meta has Facebook which was OG enough. MySpace was the real movement although you could argue LiveJournal was before that. Instagram was bought, WhatsApp was too. So really all Meta has is Facebook, everything else has been synergy. Apple / Google and as I hate to admit are innovators of the modern tech world. While they've bought their fair-share they still produce and create and have existed prior 00's. Two devices…

Apple innovate in hardware. What Google innovated during the last decade?

Apart from the Transformer architecture that enabled the AI boom/singularity/civilization-reshaping-event/whatever-this-is? Not much, I guess...

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

#492

Post by ryandrake »

culi wrote: post #470
hintymad wrote: post #205

Let's be honest, Meta over hired. Big time. If anyone ever interviewed a few Meta engineers, he would easily see that a large percentage of them had really small, and sometimes bullshit scopes. As a result, such engineers couldn't articulate what they do in Meta, couldn't deep dive into their own tech stacks, nor could solve common-sense design questions when they just deviated a bit from those popular interview ques…

People bring up "overhiring" every single time. We've had like 3 years of these massive layoffs already. How many "corrections" do they need? I'm beginning to feel like the "overhiring" line is a concerted campaign

In the year 2040, they’ll still be using the same excuse. “BigTech lays off another 10,000 from all the overhiring done 20 years ago during COVID!”

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

#493

Post by hgoel »

dboreham wrote: post #98
JeremyNT wrote: post #73

Earlier quoted context omitted.

Not buying it personally, I think this is the start of a slow unwinding. AI won't replace everybody overnight, but it'll make 10% layoffs year after year a real possibility. Either people are simply made redundant because bots in the hand of a bot wrangler can do much of their work, or people are relatively less efficient than their peers because they refuse to adapt to a world where AI is a force multiplier.

Also doesn't help that nobody can say how many people it needed to develop and maintain software even before AI. Elon declared the emperor had no clothes.

Did he really? X is constantly more buggy than Twitter ever was.

Right now they have a bug where post appears duplicated as a reply to itself (you can tell it's a bug because liking one automatically likes the other).

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

#494

Post by sureMan6 »

wakawaka28 wrote: post #480
culi wrote: post #470

Earlier quoted context omitted.

People bring up "overhiring" every single time. We've had like 3 years of these massive layoffs already. How many "corrections" do they need? I'm beginning to feel like the "overhiring" line is a concerted campaign

It is no doubt a campaign or at least a meme. It seems basically impossible for everyone to have overhired, for the simple reason that qualified workers do not appear and disappear from nowhere. There is a population of qualified workers in the software sector, and only new grads and retirement can move the needle significantly. So, if someone overhired then someone else must have done without, all things considered.…

Overhired has nothing to do with the talent pool and just means they hired more than they actually needed or wanted, if the talent pool is large enough then everyone can overhire

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

#495

Post by seattle_spring »

loeg wrote: post #477
Rapzid wrote: post #296

Earlier quoted context omitted.

Totally. I'm sure I'm not alone in saying that if I had to pick a FAANG to put all my retirement savings into Meta would absolutely not be my pick. Heck, if I was forced to either short or invest Meta with all my retirement savings now betting on it's value in 25 years.. I'd short it.

If you try and hold a short position for 25 years, you will lose all your money, even if you were right.

I'm convinced that 99.9% of folks online who claim they're going to "short a stock" have never actually shorted anything in their life.

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

#496

Post by ThrowawayB7 »

pembrook wrote: post #243
pipes wrote: post #230

Earlier quoted context omitted.

Are you saying you interviewed meta engineers and found this? Or is this speculation?

As someone who has worked at big tech (and interviewed fellow big tech workers), I can confirm this is pretty typical. People from Google, Meta, Microsoft, Apple, etc...it's all the same. Given the size of these organizations (anywhere from 100K-300K employees if you include contractors), there's a vanishingly small chance the individual you're interviewing had influence or responsibility over any important thing spe…

For big products with many years of history behind them, yeah, that's true. For v. 1.0 or skunkworks projects, it's still mostly true but occasionally, some crazy-ass stuff can happen. (Cue the "what has seen cannot be unseen" meme pic.)

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

#497

Post by seattle_spring »

pbreit wrote: post #285
rsanek wrote: post #255

Earlier quoted context omitted.

Meta has about 10% more employees now than they did at the end of 2021. They currently have less than half the employees of Google or Apple; only a third of Microsoft. If you're right, the rest of big tech is in a much worse position.

"half the employees of Google or Apple; only a third of Microsoft" That sounds like 2-10x too many. Think about what Google, Apple & Microsoft do compared to Meta.

Heck, I could build Facebook in a weekend!

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

#498

Post by edmundsauto »

ryandrake wrote: post #492
culi wrote: post #470

Earlier quoted context omitted.

People bring up "overhiring" every single time. We've had like 3 years of these massive layoffs already. How many "corrections" do they need? I'm beginning to feel like the "overhiring" line is a concerted campaign

In the year 2040, they’ll still be using the same excuse. “BigTech lays off another 10,000 from all the overhiring done 20 years ago during COVID!”

It’s almost as if a group of 80,000 dynamic humans in a wild uncharted environment might mean decisions are made that have to be re-evaluated in a year!

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

#499

Post by rvz »

Rapzid wrote: post #296
disillusioned wrote: post #275

Earlier quoted context omitted.

Yeah, but, just objectively speaking, look at how many _more_ business lines and units and actual PRODUCTS each of those other companies ship in comparison. Meta has... Facebook. Instagram. Threads, if you want to count it. What'sApp. The ad-tech that powers those things. A black hole of a VR division that has since been eviscerated after billions burned. An AR/device divison that sells glasses. And a burgeoning supe…

Totally. I'm sure I'm not alone in saying that if I had to pick a FAANG to put all my retirement savings into Meta would absolutely not be my pick. Heck, if I was forced to either short or invest Meta with all my retirement savings now betting on it's value in 25 years.. I'd short it.

> Heck, if I was forced to either short or invest Meta with all my retirement savings now betting on it's value in 25 years.. I'd short it.

Not a good idea. Meta has hundreds of leavers to find more profits from anywhere.

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

#500

Post by seattle_spring »

VoidWarranty wrote: post #368
drivebyhooting wrote: post #247

Earlier quoted context omitted.

Given how inefficient Meta et al are, why do the pay so much more than the nimbler smaller companies? (Rhetorical question, I already know the answer: monopoly and regulatory capture) Of course those engineers would rather have more meaningful work if it came with similar compensation and work life balance.

Hard to motivate people to work on things that destroy society. Money helps. Want to see how motivated Meta employees are? Watch how fast their offices clear out at 5pm on the dot.

What do you think is an appropriate time for most employees to end their workday?
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