I work in big tech (not Meta). The layoffs are a huge morale sink. Not knowing if you’re going to get called to HR week after week is a constant mind game.
I wish they’d cut perks instead of laying off staff, but for some reason, that’s not even in the cards.
The most amazing part of the Meta story is that they’ve been able to stay in business for this long. For the life of me, I can’t imagine how they ever generate enough revenue to keep even two dozen people employed.
Meta as a company may not survive intact. As an example, Musk has shown that Twitter CAN survive but with a MUCH more rational expense portfolio, including employee reduction.
I wouldn’t be surprised if FB et al were eventually sold off in piece parts.
I guess out of work coal miners are wasting their times learning to code. /S
I worked for companies where the guys at the top would get bigger bonuses the more people they laid off. I always thought that ways a strange incentive.
One bit of advice for meta employees that survive this round of layoffs:
Stolen elections have consequences.
The quicker it disappears the better
Meta is about to start its next round of layoffs.
If that’s not a warning sign to sell the stocks nothing is.
Options: Sink or swim
It looks like there will be a fire sale on all the RVs those tech employees live in.
“ The Silicon Valley employees secretly living in motor homes behind Google”
Facebook has or in the process of firing 21,000 people since Nov 2022. 4,000 just today. More to come I bet.
New Twitter fired 80% of 7,500 people and counting as Elon Musk has said (paraphrasing) you do not need as many if they are just censoring people.