Now it’s Snap time to miss earnings. Hiring freeze but no layoffs yet
Keyword: YET
Whoever's making those snap glasses will be first out
Interesting you should say this. Friday I was talking numbers with a recruiter for an L6 position in AR lens mfg. They had eight different jobs and I was told I could pick the one I wanted. Today, they made a “mistake” and it’s really an L4 position. All eight of them. Riiiiight.
Not a freeze. They still plan to hire 500 employees this year, or about 10% of the work force.
correct
All of you need to learn to read the entire article before commenting on layoffs.
Read between the lines
Not true...Have a friend in the mgmt position. They have asked to aggressively cut budget and people starting with recent hires. They raked up hiring beginning of the year and it looks like that cream will be let go. 3 months severance is what I hear. But with hiring freezes everywhere, it is not leetcode that gets you the next job, good contacts who will push the case to hire you.
🥵
Snap stock down by 40%. It signals problem coming with other companies. Meta is doomed with the macro economic conditions.
Meta has good earnings and fat margins. Won't be good for growth but a recession won't kill it. Ad revenue will suffer
Layoffs are probably inbound
Whats inbound?
It's confirmed