Mark Zuckerberg explains why so many tech companies are doing layoffs right now::Meta’s CEO said tech execs realized doing tough layoffs didn’t end their companies — and there can be benefits to being leaner.
Don’t need to hear his excuse, the answer is pretty obvious. Companies are really fucking stupid. They saw an increase in demand during COVID and assumed that, rather than being a temporary blip due to lockdowns, this was a permanent change. And so they drastically over-hired during that period, without thought for how it might end up affecting people down the line when they inevitably have to lay them off.
They never assumed any such thing.
The bean counters know things wax and wane. They hired when the needed the staff, they layoff when it makes financial sense to do so.
The end.
And when they have a good year and do a bunch of hiring, they say to shareholders “look at us growing! We hired 1000 extra people, so our business is booming!”
And when it slows down “we made difficult decisions but are now more efficient than ever! We benefited from the previous growth and now we can run lean again” and apparently shareholders eat that shit up.
I know the saying about not attributing to malice what can be attributed to stupidity… but I think we can say pretty confidently that it’s not incompetence, it’s deliberate and disgusting
This is the best summary I could come up with:
Mark Zuckerberg has a theory for why tech layoffs aren’t slowing down: Companies are realizing that, while painful, there are benefits to being “leaner.”
In an interview with Morning Brew Daily’s podcast published Friday, the Meta CEO said companies are still adjusting to the post-pandemic era.
But as people returned to stores and the economy adjusted, sales growth ebbed and ad rates came back to earth.
While a lot of tech companies were reluctant to make cuts at first, they realized it didn’t spell the end, Zuckerberg said.
“It was obviously really tough, we parted with a lot of talented people we cared about,” Zuckerberg said in the interview, speaking specifically about Meta’s past layoffs.
Since Meta cut tens of thousands of its staff starting with Zuckerberg’s “year of efficiency,” the company has been making a comeback, with its stock at an all-time high.
The original article contains 583 words, the summary contains 144 words. Saved 75%. I’m a bot and I’m open source!
That’s great, Mark, but what happens when you’ve systematically broken the trust and social contracts between yourself and us normal people so consistently and for so long that we all just decide to come for you with hatchets and pitchforks and AR-15s (because this is indeed America)? Is that the accelerationist future you want?
He’s building a bunker… So yes, yes it is what he wants. He thinks he can successfully hide from it.
It’s money, isn’t it?
Crocodile tears. Fuck billionaires telling us why layoffs happen. Don’t believe anything they say.
