Bain guys: please tell us the details
With 11k people cut(13%), can anyone from the consulting company talk about how you went with the proposal? Just trying to understand #meta #layoffs #bain
Majority are non engineering folks. So relax
Wtf?
How do you know?
They did a shitty job, because my org looks intact
Ask this guy. He’s one of the largest investors in Meta. https://medium.com/@alt.cap/time-to-get-fit-an-open-letter-from-altimeter-to-mark-zuckerberg-and-the-meta-board-of-392d94e80a18
This same guy came to give a talk at Stripe less than 1 week before the layoffs. Basically seemed like the collison brothers wanted to set the context that it’s a good idea to do layoffs before they happened.
He owns big chunk of Snowflake as well.
How is Bains involved?
Usually a large consulting firm comes in to help with cuts. Their main purpose / value-add is for management to have someone to point to if things go wrong. They come up with a framework, ensure there is no bias, etc. Make the cuts look good, as if there were tons of thought behind them. This gives investors and employees (hopefully) confidence. Source: used to work at MBB and was part of engagements like this. In reality we would just do what management said, but put a pretty bow on it. Life-draining work.
Thanks unity for the explanation
Bain hates non Engineers
I hope they really hate PMs then I’m good with them doing layoffs
So Bain provided management consulting services to Meta? That’s not bad, as long they steer away from McKinsey or Accenture.
75% non sde - reliable source
That leaves 25% swe that is almost 3k swe. With nobody outside hiring it's really hard to find anything now.