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pobody t1_jchuee3 wrote

Smells like specious reasoning. The tech talent pool is so large that no one company could make a dent in it no matter how fast or how much they hired. And what's the point in spending all that money to maybe slow down a competitor by what, a quarter? Weeks?

Never underestimate the stupidity of management. These people had nothing to do simply because management had no idea how to use them and wanted to grow products without a plan or proper hiring strategy.

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phdoofus t1_jci5pk5 wrote

Just because one former Meta employee asserts something to be true all of a sudden everyone thinks it must be true. It makes absolutely zero business sense.

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CryptographerOdd299 t1_jcjr0t2 wrote

There are so many extremely unproductive offices which don't make business sense. IT isn't an exception and likely some or all big tech names will have extremely unproductive offices too. Maybe it's a phenomenon of organization size but who knows.

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BernankesBeard t1_jcifp4u wrote

This is almost as crazy as the person in this sub who told me that the Big Tech firms were firing people in the hopes that their couple thousands of layoffs would cause unemployment to rise by enough to get the Fed to hold off on further rate hikes.

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extra-texture t1_jciv682 wrote

not to discredit the comment as it’s still a fraction of the population, but tech layoffs in just the few months of 2023 are almost 100k

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BernankesBeard t1_jciw2ib wrote

Correct. All the layoffs in the entire tech sector amount to that much out of a total US labor force of ~166m.

So if the whole tech sector got together and agreed to fire workers in a mustache-twirling, 17-dimensional chess move to stop the Fed from raising rates, then they would have managed to raised unemployment by 0.06 percentage points.

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extra-texture t1_jciwbzw wrote

yea your original comment is still valid, just wanted to make a little correction to the ‘couple thousand’ line :)

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CryptographerOdd299 t1_jcjr7e2 wrote

It's an attempt to cut costs because of rising interest rates. All big organisations have big waste. Plenty of room for improvement. Tech is no exception.

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BernankesBeard t1_jckmric wrote

Right, I mean that would be the normal, non-conspiracy theory for what's going on

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dimechimes t1_jcmbu1s wrote

They're probably a little confused as recent strong job numbers caused the market to slide a few weeks back because that meant rate hikes wouldn't stop.

So if you reverse that logic, if everyone started getting unemployed then the rate hikes would stop. Like I know it isn't that simple, but I can see where someone would come up with that idea.

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WillDeletOneDay t1_jcj1t0e wrote

They want all of the overall talent, they want all of the best talent.

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Westfakia t1_jcjylmu wrote

If you read the article you find out that these employees were diversity hires. Having them on staff makes Meta look like they have a more balanced workforce whether they are contributing or not.

Not a good look at all, Meta.

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