Blind: Meta's office to be closed on Wed – 15% layoff (5% Eng 50% recruiting)
teamblind.com
teamblind.com
https://hn.algolia.com/?dateRange=all&page=0&prefix=true&sor...
Let's wait for the thing itself. On HN, there's no harm in waiting.
https://hn.algolia.com/?dateRange=all&page=0&prefix=false&so...
If engineering is less than 1-R (as it certainly is), we can model this with a new variable E: the percentage of the rest of the company that is engineering, with E=1 being the prior case. Then 0.15 = 0.05(1-R)E + 0.50R, and you eventually get R = (0.15-0.05E)/(0.50-0.05E).
To check this: if E were 0 (so, no engineers) then that would imply the percentage of all people at Facebook who are recruiters would be 30%, which makes sense as 50% of 30% is 15%. This means that our prior estimate of 2/9ths of the company--or ~22%--is a conservatively low estimate for R.
(FWIW: I'm guessing--as that's ridiculous, right? ;P--that there are a bunch of people being fired who aren't in either engineering or recruiting... that, or people quit Facebook so often that they have to have an army of recruiters just to maintain a steady state of employment.)
Here is an article from one year ago (October 27th, 2021) that might provide us some context:
https://www.protocol.com/workplace/facebook-docs-hiring-recr...
> Facebook's hiring crisis: Engineers are turning down offers, internal docs show
> Just under two weeks ago, Facebook announced that it planned to hire 10,000 engineers in Europe to help build, among other tools, its planned "metaverse" (an announcement on those efforts is scheduled for Thursday). In Frances Haugen's testimony to the United Kingdom Parliament earlier this week, she said that she was "shocked" to hear that news. "Do you know what we could have done with safety if we had 10,000 more engineers? It would have been amazing," she said.
https://www.protocol.com/bulletins/facebook-hiring-metaverse...
> Facebook wants to be the company that moves our lives into the shared virtual reality known as the metaverse — and apparently, the company needs to hire 10,000 engineers in the European Union to make that happen.
I'd really love to know what percentage of the people being fired as part of this layoff (if this rumor turns out to be true) are specifically working on the Metaverse (and then, how many of these people are in Europe). It would be amazing if it were 0, and all of these people work on a "legacy product", such as Instagram... or Facebook ;P. METAVERSE AT ALL COSTS
Source: A quick look at what jobs Meta is still hiring for.
Bad recommendation engines often get stuck displaying stuff that has generic appeal.
Lay off 50 engineers and all the recruiters? Sounds great, except... in a given year, a handful of engineers would be expected to leave anyway from attrition. Either leaving for other opportunities, retiring, or getting fired for various reasons, who knows.
In this case, after a layoff, you can often expect a few more to leave for other jobs because they think it's a bad sign, or they miss their friends, or whatever.
So you probably still want to backfill them. You probably also want flexibility in case you realize one team needs some specific skills you didn't have.
So if you're then expecting to hire 5+ people over the next year, the cost of a full-time recruiter vs a contingent fee of ~25% (+/- some) per hire using a third party recruiter still makes sense.
Blind is all about trolling.
Why would anyone care?
They can't
- they admitted a revenue shortfall a couple of quarters ago caused by Apple’s ATT which made tracking opt-in
- “Facebook is for old people” and other platforms are seeing more engagement
- They are wasting billions on the metaverse.
While Google, Apple, Microsoft and Amazon (disclaimer where I work) have all seen declines in stock price and revenue. There is no indication that neither of them are having the same existential issues that Meta has had.
If Meta disappeared tomorrow, would anyone care or would they just move on to the next fad? Microsoft, Amazon and Apple have shown the ability to pivot and to adjust. Google hasn’t. But so far hasn’t had to.
I do think people would care about WhatsApp.
Of course, someone with deep pockets would snap that up. Google comes to mind—what’s one more messaging strategy?
If Facebook disappears overnight, I don’t think it will matter much. If anything, it would have a positive impact on society.
If Twitter and Facebook crash and burn next year, then that alone would make 2023 bearable