Hearing that Meta is preparing for a fresh round of significant layoffs across the organization: engineering, finance, operations- basically following in the footsteps of Google. This downturn in tech is looking even worse than in the 2000s dot com bubble in terms of layoffs.
Thank you Biden
Maybe worse in terms of the sheer number of tech employees laid off, but that's because we have more tech employees in 2024 than the early 2000s. You'd need to compare the % of the workforce laid off
Then what's the %
Most Blinders canβt math
How did you find out? Iβm a VP at meta and I have big news, folks! We're downsizing our workforce by 67,000 people. Why, you ask? Well, it's simple math. Facebook was built by a handful of people (2-3, to be exact), and look how that turned out - billions of dollars and a global phenomenon! And let's not forget Elon's Twitter experiment, where he proved that a small team of superheroes can achieve the impossible (or at least, that's what we're telling ourselves). So, our brilliant leaders have decided that a tiny but mighty team of 10-20 dedicated employees per product (that's a grand total of 317 rockstars) is all we need to keep our 4 billion (and counting!) users happy and entertained. It's like a startup, but with fewer pizza parties and more anxiety about meeting revenue targets. Wish us luck! But also this is the right time to buy our stock. Stock price skyrocketed after the last layoffs of a puny 10K people. I think weβll hit bitcoin prices very soon. (Iβm not a financial advisor)
Makes sense. Also consider the impact of AI in the overall picture. Maybe I dodged a bullet? Still hurts though π’
Well I guess 317 number need no VPs first
Hilarious if true, this place feels dead and the food is garbage now. Congrats to Zuck and Boz for turning a great company into Amazon Plus.
food is garbage? ok I am not joining
If you're an ex-employee, how do you gauge how "dead" the company is? Do the ghosts of layoffs past visit you in your dreams, whispering the company's demise in your ear? I hear thereβs big money in side hustling as a corporate psychic!
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π»πππ πππππππ πππ π ππππππ , πππ πππ πππππππ ππ ππππ ππππ ππ πππ πππ ππ πππππππππππππ πππ ππππππ, ππππ ππππππ πππ π πππππππ πππππππππ
Source: Trust me bro