WTH is going on with Meta!! Don't get me wrong, I thank them for boosting tech salaries single handedly. They burned a lot of money and flushed it down the toilet drain thanks to RL, Horizon worlds, occulous, and apple forking them up the b4tty with ad tracking changes! Zuck had to preach frugality and use Bain to slay tons of fat (Riley Rojas day in the life of a PM anyone?) Evaluation standards were also tightened. Wall St is appeased and the stock rips exponentially to the moon. Fast forward to mid 2023, and rumors abound that Meta is rehiring laid off folks. Then as the year progresses, I personally know folks who got messaged by recruiters and hired at crazy salaries. Looks like nothing changed bar for the AI revolution, but that's not where most of the hiring has happened either. Come Dec 2023, and again rumors are abound that cuts will happen to appease Boz!! Wtf What explains this schizophrenic behavior by Meta?
Uncle Mark had new children overlords to make an empire for don't take it personally. We are simply here to grow the empire. Layoffs gives him exponential gain in equity, after all. That being said...tc?
Dumb people are still accepting offers so why not?
Step 1 Hire like crazy, no one bats an eye. Step 2 Burn through the cash pile, analysts freak out, stocks drop Step 3 Exec buys the dip, investors pile on Step 4 Lay off, fire people, cut pillars Step 5 Stock skyrockets, everyone gets rich Step 6 Rinse, Repeat
Meta overdid the layoffs because zuck had never dealt with rexession. Meta pays very very well so people jump on the train. Things are still uncertain. When interest rate drops short term it week be good but come 2025 who knows
I don’t fully know what this said.
Where did you hear of meta layoffs for 2024?
1. Because Meta revenue growth keeps ripping through the charts. 2. The layoffs were stupid and unnecessary. Many important yet unglamorous teams were cut as if Meta was on the verge of bankruptcy.
They also reassessed their entire hiring process, now performing team matching before extending offers so that they don’t have a bunch of generalists searching for a team or unhappy with where they are.
Long answer. Meta's entire corporate culture is built around responding to change extremely quickly. That's partially why, if you've actually noticed, PSC is ironically a bottom up algorithm. Meta has so much money from FB ads it optimises for "drop everything we're doing and panic vomit out a UI feature" over all other corporate metrics. Which has really helped, in terms of: a) Rejigging their timeline completely to respond to Reels. b) Launching Threads on fairly short notice. c) Genuinely releasing products, unlike G.
lol threads. This is the most recent time I’ve heard of it.
because they can
https://youtu.be/rjIl_xFUruM?si=XyGIHWfWbaRWFZPU