Wall Street Journal is reporting 10% "cuts" on positions as a part of a broader cost cutting exercises. Any further scoop on it? https://www.wsj.com/articles/meta-and-google-are-cutting-staff-just-dont-mention-layoffs-11663778729
This article is bending the truth, but good for them if their goal is to attract attention.
News always bends the truth. But can you let us know what is truth at Meta is?
Meta just responded to WSJ to tell them that their article is not factual. The company has been talking about cutting costs for some time and shifting priorities. Because of this, some areas in the business will need more people and some others areas will need less, so the goal for the reorg is to align the allocation of people with those needs. This requires some people to be moved to other teams, but no plans of layoffs was discussed discussed. Again, cutting cost can mean less data center construction THAN expected, but that does not mean that the current headcount is too much. Maybe that's too difficult for a liberal art journalist to understand, i.e. "I was planning to hire 10,000 but now planning to slow that and only hire 500 to cut cost. Does it mean laying off 9,500 people?" The proof is, outside of Amazon, we are the only big tech still actively hiring.
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I do tech screens at Google. AMA
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Click bait for Google, meta yes
And no one cares about Meta, so it’s all just a giant nothing burger.
Why would meta lay off people like that? Attrition is high due to stock drop, reorgs are pushing people out, and no new hires. BS