Why some think h1bs should let go first?
Out of all the possibilities, I think this was the best way to deal with layoffs. I looked at other companies and it's an absolute mess. People have no idea what's going on, some have been let go but some are yet to be notified weeks later, and some... — read more
I keep reading rumors online taht Zuck is going to step down next year. Is that really the case?
but many will be joining the "educated underclass" in the real world. https://www.highereducationinquirer.org/2020/10/the-college-dream-is-over-gary-roth.html https://www.highereducationinquirer.org/2020/05/lets-all-pretend-we-couldnt-see-it.html — read more
I hear that there is PSC culture at Facebook and that they should be avoided as an employer. Do you know what "PSC" means in this context. Thank you!
Ran the company in the toilet!
I started my dev career in 2007, I already knew what it meant to be humbled real quick. I kept telling all these young tech folks to save and don’t live style inflate, what do they do? Flex their inflated TC, buy luxury cars out of college... — read more
It's going to get worse. Way, WAY worse. You thought the last 30 days was ugly, well strap in! https://seekingalpha.com/article/4556368-2023-meta-could-see-another-70-percent-downside
The term FAANG should be modified after this massive layoff at FB. I am proposing removing the "F" and rearrange the term to become the "NAAG" companies. What are your thoughts?
I got an offer from a much smaller company and now I'm in a dilemma. On the one hand, I think that small company might be a liberating place to work, but on the other hand, I don't know how good a career decision it is. Anyone else having the same... — read more
Despite Big Layoffs, Tech Workers Are Still in Demand https://www.wired.com/story/despite-big-layoffs-meta-twitter-stripe-tech-workers-are-still-in-demand/
Take the bait! https://www.highereddive.com/news/Northwestern-Kellogg-School-MBA-Tech-Workforce-Layoffs/636657/ https://www.highereducationinquirer.org/2019/10/college-meltdown-expands-to-elite.html
Wall Street is not rewarding META that much ($113 per share only??). As more layoff details are known, it looks like the staff cutting was more "peripheral" than strategic. How many of the 11k that were let go were related Metaverse or Infra (Data... — read more
The problem is that the best engineers are not necessarily working on some useful project. Also, I know a few who are just punching their time cards making $600k a year doing almost nothing. They too know it and admit it. They should have moved on to... — read more
Facebook still has 76,000 employees after these layoffs. Just something to think about.
I was thinking of buying product here, but if they got cancelled I would like to know.
Here's the Math: 30,000 contractors will not be renewed in 2023 so the number is 11K+30K = 42K... Add to that 10K FTEs slated for layoffs in 2023, we are looking at 42K+11K=53K
How was your severance package? I was with Meta for 2 years and just got 16 weeks severance. It’s so unfair.
I took this layoff very hard, although some of my colleagues say that they actually secretly wished to get paid to leave.
Curious to know - Has Z been informed politely (at least at the beginning) of his fiduciary obligations to Meta's shareholders? Class B shares won't protect him from shareholders actions to get their worth back. Wait and see.
With Billions of dollars evaporated, Metaboy has been forced to mature overnight and evaluate many options to get some (not all) of his lost equity back. If he and his team can't figure how to build a pair or freaking legs in an Avatar, how much... — read more
I’ve been at FB about a year, it’s my first job out of college, and I really hate work. I dread it so much. It’s not that I’m bad at it, I got a good performance review and seem to be well respected for my work. Too many meetings, I have no time to... — read more
Opex & Capex Cuts ---> Less assets investments ---> More layoffs ---> "Keepers" low morale & burn ----> Less impactful work ---> Priorities revisiting ---> Metaverse light ---> Stock plummets ---> New CEO & Board
Unfortunately this is just the beginning for layoffs. Investors care for returns and they are just not there...so Mr. Z has to show a relentless expense and capital stewardship to try to get their confidence back. Until then, wall street will not... — read more
I feel sorry for everyone who is affected. Unfortunately, I think the cuts were inevitable because profitability has fallen to a two-year low. I am interested in your opinion, will the company be able to return soon to being as profitable as it was... — read more
The worst of all hangovers. One day you wake up and realize that on top of the time you put to work, those precious minutes you devoted for all of those likes, valentines and hugs in Workplace are not there to protect you. Brown nosing to celebrate... — read more
I though it was going to be some sorts of big quite reduction. However he jumped out and took the blames with such a humble announcement.
We have plenty of employees in other countries, are any of them being kicked out?
While I'm willing to admit that layoffs were necessary and the whole process was handled decently, I still think some of the wrong people were cut. A couple of engineers I know who were laid off were among our best. This makes me think that the... — read more
https://www.ft.com/content/c73e861f-0d98-4b34-b5b7-25f7bc2e5d2b Jim Tierney, chief investment officer for US growth at AllianceBernstein, a Meta shareholder, said it was “definitely a step in the right direction”. But he questioned why the... — read more
The company rapidly hired people across all departments during the pandemic. Now I wonder whether it would've been better if the company was perhaps a little understaffed, rather than going through a hiring bo-m and risking such large cuts?
Any gaming studio can do leaps and bounds better than metaverse. Literally, ANY.
Unfortunately I was a part of the culling. Here's what them email I got sent read: Hello person we just fu---d, Earlier today, Mark announced that we’ve made the hard, but necessary, decision to lay off 13% of the company—unfortunately, you’ve been... — read more
Currently there is a huge competition on the job market, but I think that most of us will succeed at getting a new job much earlier than most employees from other companies. Meta on a resume is of great value, I hope so anyway... Thoughts?
Does anybody here actually believe that metaverse is the future? I have a feeling a lot of good people lost their livelihoods today because a stubborn billionaire refuses to accept and/or admit that his "brilliant" version of an idea that's been... — read more
The question is whether this generous package can cover up the big black eye on this company's reputation for cutting 11k jobs.