Submitted by Naren_the_747_pilot t3_1197cmp in wallstreetbets
liverpoolFCnut t1_j9l1vv8 wrote
Back in December when i first read about META's 11k planned layoff, my first reaction was "Wow! That's more than 50% of their company!". Its only later that i found out that META now has close to 100k employees, or 80,000 more than they did mere 6 years ago!
The tech companies and their profits have grown exponentially over the last 12 years . As the revenue went up, so did the headcount. My fear is if mass layoffs in thousands are being done when the stock market is still high and companies are still beating expectations, then imagine how things will look like especially in tech when the downturn finally arrives and revenue/profit begin taking a hit.
Game_of_Tendies t1_j9ljtq7 wrote
They added something like 40,000 between 2020 per-pandemic to Nov ‘22 when they had their first layoff. All the tech companies are going to be laying off multiple times this year. I don’t see how Meta don’t fire almost everyone they hired in the last two years…the Metaverse IS NOT a recession product and the biggest black hole in that company.
0Bento t1_j9o05ai wrote
Zuck would rather sack his staff that abandon his vanity project
Viewing a single comment thread. View all comments