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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

#581

Post by autaut »

mh2266 wrote: post #485
autaut wrote: post #431

Earlier quoted context omitted.

Is he going to pay the severances out of pocket? Is he going to personally help those employees get back on their feet? Is he going to make sure their families are ok? Is he stepping down? What does it look like besides cheap talk from a cheap and clueless leader? The guy is just another mediocrity who tripped into a huge pile of money and now it’s everyone’s problem while he acts as a giant baby.

I think you're more upset about this than the typical Meta employee. Judging by... vibes, the main reason they aren't taking volunteers for these layoffs is that they might get more than 10% champing at the bit to take the severance. The 2022 RSUs at Meta have more than doubled since the grant price, and are mostly vested out now, ending Feb 2027, after which there will be a steep TC decline for people employed since…

>provide severance packages for those in the United States that include “16 weeks of base pay plus two weeks for every year of employment”

That is a standard package and no way a FIRE or at least extended funemployment if they have children or a mortgage.

But crazy level of sycophancy on your part

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

#582

Post by autaut »

dcrazy wrote: post #531
autaut wrote: post #435

Earlier quoted context omitted.

You have brain poisoning from reading too much slop online. >But I doubt the low-growth, low-innovation world of Europe will make the next iPhone, AI, or chip. >chip Do you realize that the cutting edge in chip technology is a Dutch company

That obtained the cutting edge technology by buying an American company that had been founded to productize technology developed at an American defense laboratory based on a Japanese researcher’s work

You are forgetting 20 years and billions of dollars developing, in collaboration with research institutes like IMEC and funding from chipmakers like Intel, Samsung, and TSMC.

But it doesn’t fit your ideological narrative of how innovation functions so…

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

#583

Post by bandrami »

aurareturn wrote: post #578
wisty wrote: post #472

Earlier quoted context omitted.

3 and a half ways AI takes jobs: 1. By making workers unnecessary (largely hypothetical right now?) 2. By companies spending big on AI, but it didn't pay off yet so they need to cut back on something else. 3. AI is a good excuse for layoffs they want to do anyway. Also - the investors would rather hear "AI" than "oops we are in trouble so we need to do layoffs". For example, if you spent a lot of billions on a 2nd li…

Why is #1 hypothetical? If 1 employee can do the work of 3 now but Meta's TAM can't grow 300%, then they can cut some employees. In other words, worker productivity might be higher than what the ad business can grow into, so Meta can safely cut cost and still hit their growth targets. Edit: I should be clear that I think #1 has been achieved for software development.

Because I think "1 employee can do the work of 3 now" still hasn't actually been demonstrated

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

#584

Post by OtomotO »

khriss wrote: post #24
OtomotO wrote: post #12

Earlier quoted context omitted.

[flagged]

I know it's implied, but you would be wise to add a /s Quite a few folks on HN have developed a remarkably thin skin and no longer make the most charitable interpretation.

I refuse to do such things to cater to certain people.

Frankly I don't care whether I get or lose karma points, lol

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

#585

Post by computably »

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.…

> 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.

SWEs (and most any role for that matter) definitely can be minted in ways besides graduating with a relevant major. On top of that there's also H1Bs and contractors. Plus "overhiring" doesn't necessarily just mean absolute headcount, it could be compensation, scope, middle managers, etc. The definition of "qualified" is also malleable depending on the incentives.

> So, if someone overhired then someone else must have done without, all things considered.

Beyond the previous points, this also assumes the supply of labor is independent of the demand, and it's clearly not. As the demand increases, so does compensation, outreach, advertising/propaganda, etc. Everybody can overhire simultaneously as a result of pushing for growth of the supply of labor.

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

#586

Post by razakel »

hyperhello wrote: post #456
wjeje wrote: post #426

Earlier quoted context omitted.

Let’s go another step further! The continual success of fb and instagram has not come from zuck but through glorified A/B testing on steroids whilst lighting employee’s asses on fire each quarter to move the metrics. Visionary genius? My ass. Only Steve Jobs proved he is worthy of that title. Bro is a fraud. He always was - remember he stole the idea for fb. Thankfully he’s getting found out.

Did he really steal the idea? I thought the idea was just a message board for Harvard students. That isn’t novel.

The original idea was this:

>I almost want to put some of these faces next to pictures of farm animals and have people vote on which is more attractive.

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

#587

Post by abkolan »

shmatt wrote: post #11

if you've ever been through a Meta loop (and their method is to cast an extremely wide net, so chances are you have), you've seen how inefficient their loop can be for long term success 6-7 38* minute interviews, while the interviewee is trying to squeeze in showcasing their skills and experience, the interviewer is obsessed with figuring out a rigid set of pre-determined "signals" Once these candidates actually star…

This was exactly my experience too. The interviewer seemed more focused on checking boxes on the grading rubric than actually understanding the design discussion. They barely engaged with alternative approaches.

The interviewer was also very hard for me to understand, which made the interview harder than it should have been.

I am ESL too, so this is not about someone’s background. The problem is communication in an interview where both sides need to understand each other clearly.

From what I have seen on Blind, others have had similar experiences.

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

#588

Post by doublerabbit »

squiffsquiff wrote: post #387
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…

By this logic you should factor that android was an acquisition, as were YouTube, doubleclick, deepmind and Waze

I forgot about that. Back to the drawing board.

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

#589

Post by byzantinegene »

Schlagbohrer wrote: post #555
AbbeFaria wrote: post #546

Earlier quoted context omitted.

My experience working at Big tech companies is that people with roles like “agile coaches", "technical project managers", UX testers add questionable value. And the QA is usually outsourced to service companies like MindTree, TCS etc anyway. Lot of these companies are bloated from having way too many Engineers anyway. Once you have mature software that brings in bagfuls of money, you don’t need that many people to ke…

What do you think about Cory Doctorow's theory that the AI produced code is going to come back to bite companies due to tech debt / unmaintainability? I am skeptical of Doctorow's theory because it looks like LLMs will continue to improve enough over the near term to be able to handle issues caused by AI-written code from the past few years.

the near term is not an issue, because most ai code is still reviewed by experienced engineers with experience. the problem comes in the future where junior engineers who never acquired enough experience to handle engineering problems

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

#590

Post by [deleted] »

NotMichaelBay wrote: post #417
lenerdenator wrote: post #290

Earlier quoted context omitted.

Well, if that's the case, it's time to hold leadership accountable, because they recklessly spent company money on hiring people who did not create value for the shareholders. Mark Zuckerberg ultimately approved that hiring initiative, right? He's the CEO; either he approved it or he approved of the hiring of the person that handled it and likely delegated the task to that person. Mark needs to be shown the door. Oh…

Oh no, poor shareholders, they must have blindsided. When did Mark gain majority voting power?

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