Another day, another company, & another set of layoffs 😔.
crazyoldgerman68 on
And videos have issues, the fix is being laid off
NebulousNitrate on
When I was complaining about some people on my team who had to be really really pushed on my team to do any work at all, an exec at one major tech company recently told me he believes he could cut up to a quarter of their employees based on performance with minimal impact as long as they could hire a few additional good people to take over their work. It was kind of eye opening, and shows higher ups are thinking about massive cuts. My guess is there aren’t more of them right now due to regulations and legal considerations of cutting people solely on performance.
yoppee on
This Country has a real problem when more Labor does not equally more revenue
At what point does our future look like when we have a few firms that don’t need any labor to make all the money
AdditionalActuator81 on
Of course they have to figure out some way to juice the profits before earnings.
softcore_robot on
Someone should tell them they have a creator incentive program. I hear you can make lots of money.
not_creative1 on
It’s partly because people’s pay has become vastly distorted. They want to “reset the pay scale”
Some people who joined meta 2 years back (when stock price was near 100) have seen their compensation go up 300% in 2 years thanks to the fact that the stocks that were granted have gone up 500% in value. So now their compensation is so high, no way meta can keep it up. There are more experienced people inside the company that are not making anywhere near that. The sudden price drop and surge has created a cohort of people who joined at the right time, with ridiculous pay.
I know a guy who accepted an offer as a senior engineer in early 2023 for 300k and his estimated compensation for 2025 is like 800k if stock price stays where it is now.
7 Comments
Another day, another company, & another set of layoffs 😔.
And videos have issues, the fix is being laid off
When I was complaining about some people on my team who had to be really really pushed on my team to do any work at all, an exec at one major tech company recently told me he believes he could cut up to a quarter of their employees based on performance with minimal impact as long as they could hire a few additional good people to take over their work. It was kind of eye opening, and shows higher ups are thinking about massive cuts. My guess is there aren’t more of them right now due to regulations and legal considerations of cutting people solely on performance.
This Country has a real problem when more Labor does not equally more revenue
At what point does our future look like when we have a few firms that don’t need any labor to make all the money
Of course they have to figure out some way to juice the profits before earnings.
Someone should tell them they have a creator incentive program. I hear you can make lots of money.
It’s partly because people’s pay has become vastly distorted. They want to “reset the pay scale”
Some people who joined meta 2 years back (when stock price was near 100) have seen their compensation go up 300% in 2 years thanks to the fact that the stocks that were granted have gone up 500% in value. So now their compensation is so high, no way meta can keep it up. There are more experienced people inside the company that are not making anywhere near that. The sudden price drop and surge has created a cohort of people who joined at the right time, with ridiculous pay.
I know a guy who accepted an offer as a senior engineer in early 2023 for 300k and his estimated compensation for 2025 is like 800k if stock price stays where it is now.