Facebook parent plans new job cuts that could match last year’s tally

wsj.com

73 points·npalli··10 comments

this from a company that has announced $40B in buybacks

This felt especially like a middle finger to employees because it boosted the stock price exactly during the 1 week window that determines how many new RSUs will be given to employees as refreshers for the year. Higher price = less shares. Had the stock not rocketed before the window, employees would have gotten ~20% more shares.

We keep getting articles and keep having nothing happen… They need to pull the trigger some day.

The WSJ article in Nov 2022 turned out to be pretty accurate, I would be surprised if this one wasn't. This year's Meta layoffs were reported on in Bloomberg as well a few days ago, and Meta hasn't denied either of the reports.

it takes fewer people to oil a machine than it took to build it

Meta was supposed to be building a new machine since the old one’s usage stopped growing

Now they have to decide between AI and VR. Unless Zuckerberg wants to put wood behind multiple arrows, which seems like a great way to risk missing both opportunities.

Oh, and they have to KTLO at their money makers.

Shrinking at opportunity seems strange if the business is healthy. It's a great signal to would-be engineers on these efforts.

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