Every time they email me, I'm tempted to ask why would I join Meta where I'll have to pour all of my energy and emotions 50-60hrs per week only to be laid off... for absolutely no reason. And Meta/Zuck have recently been going around saying the "layoffs are based on performance". So being laid off from Meta makes you a toxic candidate for any potential new role. Who would want to hire a slacker who was fired from Meta??
> The company had raised its quarterly dividend by 5 per cent last week to just over 52 cents, in another boost for investors.
Meta doesn't HAVE TO make this 10% employee pay cut for its infra buildout. Zuck is just trying to "establish dominance" in the age old battle of Capital vs Labor.
Edit:
This might seem conspiratorial, but we know practically all tech CEOs are in multiple group chats with each other. They clearly so say if you listen to podcasts like "All In".
So, I do have to wonder how much of the recent tech layoffs and pay cuts have been a coordinated action amongst tech CEOs to drive down salaries. It's not like they haven't been caught doing this in the past.