(aka my morning dose of schadenfreude)
Posted on 03/14/2023 7:26:36 AM PDT by Red Badger
Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs.
The company announced 11,000 job cuts in November, about 13% of its workforce at the time.
Meta and other tech companies have been hiring aggressively for at least two years and in recent months have begun to let some of those workers go.
Early last month, Meta posted falling profits and its third consecutive quarter of declining revenue.
The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May.
“This will be tough and there’s no way around that,” said CEO Mark Zuckerberg. “It will mean saying goodbye to talented and passionate colleagues who have been part of our success.”
The Menlo Park, California, company has invested billions of dollars to realign its focus on the metaverse. In February it said a downturn in online advertising and competition from rivals such as TikTok weighed on results.
“As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs — and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long term vision,” said Zuckerberg.
The biggest tech companies in the U.S. are cutting costs elsewhere, too.
This month, Amazon paused construction on its second headquarters in Virginia following the biggest round of layoffs in the company’s history and its shifting plans around remote work.
In early trading, Meta shares rose 6%.
Bttt
Whatever Facebook (or Meta, whatever) is or isn’t (and I’m not the one to judge as I hate FB with the heat of 100 suns) I’m having a hard time imagining what they needed 21,000 now-expendable employees for.
No paycheck, either!.....................
My Facebook homepage is looking more and more like MySpace.
I was amazed when I saw the video of a FB (or was it Google) employee showing her typical ‘workday’ of wandering around, getting free Latte’s and smoothies and fresh fruit, going to yoga sessions, playing pool, and occasionally attending a meeting.
It seemed like about 2 hours actual ‘work’ with a relaxing 6 hours of free food and spa treatments.
We got a new batch of employees fresh out of college here where I work and I have to keep telling them that the work-place is not a college cram session, where you spend hours reviewing video games and music other non-work related stuff.
I’ve had to fix software they’ve spent weeks doing, that I could have completed in an hour.
Feel-good story of the day!
They shouldn’t worry, here in SoCal just about every restaurant and small business has a Help Wanted sign out front. By my observations, there is 30,000 plus Job Openings in the greater Los Angeles area, perf3ect for ex Meta employee’s
I hope their “fact checkers” are among the first to go.
Cutting more part-time FBI Staff?
So learn how to dig
Always a job for grave diggers.
I find myself starting to visit Gab.com more and more. I find some of the blatant racism there to be repellent, but it’s easy enough to block anyone who is offensive. And there are plenty of interesting people to follow there.
That’s 15,000 employees gone, what were all of those people doing?
Twitter...soon before Elon took over.
Same here in Florida’s Panhandle.
Practically every restaurant, Fast Food joint, and retail outlet has a ‘HELP WANTED’ of ‘NOW HIRING’ sign out front.
We go out to eat often and the wait times are longer than ever because of ‘personnel/staff shortages’ as the signs say.
With 200k+ ‘migrants’ coming across our borders ever month, with the Biden government’s blessing, where the hell are they? Why aren’t they filling these job openings?
Oh, I forgot, they get free food, free housing, free money and free phones..........................
Reminds me of a line between two of those college kids in the old 1980s movie Ghost Busters.
The private sector is scary! They expect results.
(aka my morning dose of schadenfreude)
AFTER they collect UNemployment checks for 99 weeks.
Who said there was no good news anymore?
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