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.
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.