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News Meta To Begin Layoffs This Week
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RuckleSt Offline
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Post: #21
RE: Meta To Begin Layoffs This Week
(11-11-2022 09:25 AM)Niner National Wrote:  My friends wife was one of the layoffs.

And he works for a crypto exchange that is going under today, so they both lost their jobs this week.

Damn, and right before the holidays, that's rough.
11-11-2022 10:37 AM
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mlb Offline
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Post: #22
RE: Meta To Begin Layoffs This Week
(11-11-2022 10:37 AM)RuckleSt Wrote:  
(11-11-2022 09:25 AM)Niner National Wrote:  My friends wife was one of the layoffs.

And he works for a crypto exchange that is going under today, so they both lost their jobs this week.

Damn, and right before the holidays, that's rough.

Yeah, that sucks. I would never have trusted any of the crypto exchanges... I never trusted to invest any money into any of that either. Just seems too risky of a gamble to me.
11-11-2022 10:55 AM
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JDTulane Offline
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Post: #23
RE: Meta To Begin Layoffs This Week
(11-11-2022 10:55 AM)mlb Wrote:  
(11-11-2022 10:37 AM)RuckleSt Wrote:  
(11-11-2022 09:25 AM)Niner National Wrote:  My friends wife was one of the layoffs.

And he works for a crypto exchange that is going under today, so they both lost their jobs this week.

Damn, and right before the holidays, that's rough.

Yeah, that sucks. I would never have trusted any of the crypto exchanges... I never trusted to invest any money into any of that either. Just seems too risky of a gamble to me.

Crypto has been unkind to me 03-pissed
11-11-2022 11:12 AM
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Bronco'14 Offline
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Post: #24
RE: Meta To Begin Layoffs This Week
Reddit (safe Blue) saying Disney announcing layoffs next. Entertainment & tech industries first, other industries to follow. Fed wants to shrink economy to fight inflation, & that means laying people off.
(This post was last modified: 11-11-2022 11:22 PM by Bronco'14.)
11-11-2022 11:22 PM
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Todor Online
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Post: #25
RE: Meta To Begin Layoffs This Week
So many of these “tech” companies are merely advertising brokers. They have very little income or product other than placing ads.

Amazon, Apple and Microsoft also have large ad businesses, but they also do other things. For them, the ad business is more gravy than bread and butter. We haven’t seen the end of the tech industry suffering (I hope:))
11-12-2022 12:22 AM
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Niner National Offline
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Post: #26
RE: Meta To Begin Layoffs This Week
(11-11-2022 10:37 AM)RuckleSt Wrote:  
(11-11-2022 09:25 AM)Niner National Wrote:  My friends wife was one of the layoffs.

And he works for a crypto exchange that is going under today, so they both lost their jobs this week.

Damn, and right before the holidays, that's rough.

He’s a multi millionaire and is brilliant. He will be fine.
11-12-2022 08:20 AM
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hburg Online
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Post: #27
RE: Meta To Begin Layoffs This Week
(11-12-2022 08:20 AM)Niner National Wrote:  
(11-11-2022 10:37 AM)RuckleSt Wrote:  
(11-11-2022 09:25 AM)Niner National Wrote:  My friends wife was one of the layoffs.

And he works for a crypto exchange that is going under today, so they both lost their jobs this week.

Damn, and right before the holidays, that's rough.

He’s a multi millionaire and is brilliant. He will be fine.
Is that FTX? Bad situation there, if so.

Sent from my SM-G988U using Tapatalk
11-12-2022 09:52 AM
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Eagleaidaholic Offline
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Post: #28
RE: Meta To Begin Layoffs This Week
Dude blew ALL of his money on Democrat politicians. He will end up in jail or dead.
11-12-2022 02:42 PM
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UofMstateU Offline
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Post: #29
RE: Meta To Begin Layoffs This Week
(11-12-2022 02:42 PM)Eagleaidaholic Wrote:  Dude blew ALL of his money on Democrat politicians. He will end up in jail or dead.

We'll probably find out that this was a quasi ponzi scheme and dude knew it would fail massively at some point, so he donated like $30million (after promising $1billion) to the democrats in the hopes he wouldnt get indicted and could skate with his millions. He was the second largest dem donor behind Soros.
11-12-2022 04:47 PM
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Mr_XcentricK Offline
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Post: #30
RE: Meta To Begin Layoffs This Week
Mark Zuckerberg betting on the meta verse and some want to blame politics. Elon Musk overpaying wildly for Twitter and some want to blame politicians. This is the free market. Bad ideas have bad consequences.
I do feel for the people losing there jobs and I know the feeling. I work in tech and the last few years have been crazy
11-12-2022 05:07 PM
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Niner National Offline
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Post: #31
RE: Meta To Begin Layoffs This Week
(11-12-2022 09:52 AM)hburg Wrote:  
(11-12-2022 08:20 AM)Niner National Wrote:  
(11-11-2022 10:37 AM)RuckleSt Wrote:  
(11-11-2022 09:25 AM)Niner National Wrote:  My friends wife was one of the layoffs.

And he works for a crypto exchange that is going under today, so they both lost their jobs this week.

Damn, and right before the holidays, that's rough.

He’s a multi millionaire and is brilliant. He will be fine.
Is that FTX? Bad situation there, if so.

Sent from my SM-G988U using Tapatalk

Blockfi, which is heavily funded by ftx
11-13-2022 08:29 AM
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49RFootballNow Offline
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Post: #32
RE: Meta To Begin Layoffs This Week
(11-12-2022 08:20 AM)Niner National Wrote:  
(11-11-2022 10:37 AM)RuckleSt Wrote:  
(11-11-2022 09:25 AM)Niner National Wrote:  My friends wife was one of the layoffs.

And he works for a crypto exchange that is going under today, so they both lost their jobs this week.

Damn, and right before the holidays, that's rough.

He’s a multi millionaire and is brilliant. He will be fine.

03-nutkick
11-14-2022 10:05 AM
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U_of_Elvis Offline
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Post: #33
RE: Meta To Begin Layoffs This Week
Google when through a round of over hiring and pushing managers to do temporary team matches to get people who were a good fit through the door, even if they didn’t have the right spot. Good people are hard to find, and in growth mode it’s easier to pay someone 350k when they are looking for a job vs having to go out and poach them for 450k when they are comfortable at another tech company. There was a mentality of “if we don’t hire this person someone else will and it will cost us more later to get them” for people they really wanted.

It made sense when they were in growth mode, but as growth cooled they have now had to go on a hiring freeze and shuffle people around. Meta had reportedly gone through a similar phase where they were hiring good software engineers just so someone else couldn’t hire them, then finding them jobs. They kept that burn going way too long though, and now to make matters worse the advertising revenue is shrinking.
11-14-2022 10:41 AM
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