2 ms·

I can't speak formally for any of the companies, of course, but I suspect like another commenter said, its an opportunity to cut fat. Beyond that, the last two

I can't speak formally for any of the companies, of course, but I suspect like another commenter said, its an opportunity to cut fat. Beyond that, the last two years saw many tech companies grow stupid-fast. For example, Snap hired more than 50% of their pre-layoff workforce since start of the pandemic. Google, Meta have both doubled headcount in a similar (slightly longer) time scale. I suspect that despite being rich, headcount is expensive. If the median googler makes 300k, it probably costs Google 500k to employ. A team of 100 is $50M! A news article claimed google hired 10k people in Q2, so that'd be $5B in commitment (probably actually less, but on that scale). Doesn't take many quarters of that sort of growth to outpace income.

acchow 4y ago
> If the median googler makes 300k The median googler does not make 300k. The median Google engineer/manager in the US might make 300k but Google hires plenty of people in other roles and in other countries.
- vineyardmike 4y ago
  > Google parent Alphabet Inc. GOOG -1.79%▼ and Facebook Meta Platforms Inc. had the highest-paid median workers, at almost $300,000. Actual number was 295,884 I chose a round number. Wasn’t too far off. https://www.wsj.com/articles/what-alphabet-meta-and-other-s-p-500-firms-paid-workers-last-year-11654084801 https://www.wsj.com/articles/what-alphabet-meta-and-other-s-...
  - midoridensha 4y ago
    Your number was accurate to 2 significant digits, which is more than good enough.