Posted on 04/19/2023 3:48:59 AM PDT by george76
The company plans to lay off employees on Wednesday
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In an internal memo posted to a Meta employee message board on Tuesday evening and viewed by Vox, the company told employees that the layoffs will start on Wednesday and will impact a wide range of technical teams including those working on Facebook, Instagram, Reality Labs, and WhatsApp. A Meta spokesperson confirmed the memo was sent to employees but declined to comment further. The cuts could be in the range of 4,000 jobs
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Meta employees in North America will be notified by email between 4 am to 5 am PT Wednesday morning
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The layoffs come after Meta CEO Mark Zuckerberg said in March that the company would cut 10,000 more jobs in the coming months, after already cutting 11,000 in November. Zuckerberg previously said that cuts in April would impact tech departments, while another planned round of cuts in May will impact the business side of the company. At the end of last year, Meta, which is the parent company of Facebook, Instagram, and WhatsApp, had around 86,000 employees.
Sources spoke with Vox on the condition of anonymity because of concern about professional repercussions.
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major tech companies like Meta are now undergoing an intense period of cutbacks and belt-tightening measures. Silicon Valley as a whole has been going through an economic downturn that has drastically changed what was once considered a free-spending work culture. Long gone are the days of unlimited perks, travel, and nonstop hiring. And in the past year, almost every major tech company has had rounds of layoffs. Meta’s have been particularly painful, with the company issuing the cuts in waves.
“This will be tough and there’s no way around that,” Zuckerberg wrote in a Facebook post last month. “Over the next couple of months, org leaders will announce restructuring plans focused on flattening our orgs, canceling lower priority projects, and reducing our hiring rates.”
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Meta’s layoffs last year, employee morale has suffered. Vox reported in January that internal employee sentiment surveys about optimism and confidence in leadership at the company were the lowest they had been in recent memory. Several sources described working in a state of limbo for the past few months and that it’s hard to get any work done.
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it’s “too stressful to keep worrying when you can’t do anything about it”
Meta’s next round of cuts shows that this isn’t the end of tech layoffs, it’s only the beginning of the next wave.
I work in big tech (not Meta). The layoffs are a huge morale sink. Not knowing if you’re going to get called to HR week after week is a constant mind game.
I wish they’d cut perks instead of laying off staff, but for some reason, that’s not even in the cards.
The most amazing part of the Meta story is that they’ve been able to stay in business for this long. For the life of me, I can’t imagine how they ever generate enough revenue to keep even two dozen people employed.
Meta as a company may not survive intact. As an example, Musk has shown that Twitter CAN survive but with a MUCH more rational expense portfolio, including employee reduction.
I wouldn’t be surprised if FB et al were eventually sold off in piece parts.
True. What generated profit for Meta aside from FB-related ad revenue? I have no idea.
Running out of Kinko boxes ?
Musk said that 80 percent of employees at Twitter are gone.
I’m sure they sold user data, too … but once it became clear that the site is filled with fake users, the value of that data was surely diminished.
I guess out of work coal miners are wasting their times learning to code. /S
We do not know exactly how much money Meta received from the government to assist in the propaganda war against the American people
I’m sure they sold user data, too … but once it became clear that the site is filled with fake users, the value of that data was surely diminished.
******
The technology sector as whole is over capitalized with redundant companies, those companies went on a hiring a spree that swallowed up a lot of the labor supply. That hiring spree raised their costs, those costs are unsustainable.
This is starting change, should last 12 to 18 months, with plenty of layoffs.
50 percent of Biden’s twitter followers are fake, how many 2020 ballots were also fake?
https://nypost.com/2022/05/17/half-of-joe-bidens-twitter-followers-are-fake-audit-reveals/
I worked for companies where the guys at the top would get bigger bonuses the more people they laid off. I always thought that ways a strange incentive.
Woke San Francisco Fed Chief Mary Daly ignored Silicon Valley Bank’s warning signs - too busy playing woke politics and pushing woke agendas .. as senior management gave themselves bonuses - just before the second-biggest bank failure – ever..
George Carlin - It’s a big club and you ain’t in it.
One bit of advice for meta employees that survive this round of layoffs:
Stolen elections have consequences.
And that’s a great thing.
Not only fewer liberal ideologues to censor & spout lies but the potential of cracks developing in the indoctrination of those made redundant and those fearing layoffs as reality bites. Waiting for Joe to fix the pain will get old very fast.
they will immediately go to the IRS and fill the 85K jobs
They are funding the Government with college educated leftist people who will be armed by the IRS and will hurt the citizens.
This is very dangerous
What generated profit for Meta aside from FB-related ad revenue? I have no idea.
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FB was never a profit source, it was an information vacuum for the feds and internationals and they paid handsomely.
The quicker it disappears the better
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