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Facebook reportedly laying off thousands of employees

264 points by cromat3 4y ago

macintux 4y ago
This news has been submitted multiple times over the last couple of days. The submission with the most comments, 35: https://news.ycombinator.com/item?id=33087097 https://news.ycombinator.com/item?id=33087097
Yuioup 4y ago
- deleted 4y ago
  [deleted]
noncoml 4y ago
Maybe Zuck should put himself on PIP as it’s obvious he needs support. He had a money printing machine and managed to fuck it up.
- jmathai 4y ago
  I worked at Yahoo! when the company offered to acquire Facebook for $1.4 billion. Most thought Zuck was a fool to pass on that. He 300x’d it in 10 years.
  - mhoad 4y ago
    And just think all it took was a couple of genocides, breaking society and becoming one of the most despised people in the world.
    - Jorengarenar 4y ago
      Genocides?
      - bagels 4y ago
        www.washingtonpost.com Facebook sued by Rohingya refugees for role in alleged Myanmar genocide
      - camillomiller 4y ago
        Yes genocides. Facebook played a pivotal role in the Rohingya genocide in Myanmar. They even admitted to that, but nobody gives a flying f.
        eru 4y ago
        Snail mail played a vital role in the administrations of Nazi Germany and Soviet Russia. Is that different or comparable?
        analognoise 4y ago
        No that's different. What would be closer was IBM working with the Nazis: https://en.m.wikipedia.org/wiki/IBM_and_the_Holocaust https://en.m.wikipedia.org/wiki/IBM_and_the_Holocaust
        Barrin92 4y ago
        It's different because nobody is in charge of snail mail which is merely a technology. Internet platforms have designs, incentives and people in charge for each aspect of their operation. They can chose what to amplify or not. It's been a convenient excuse of internet platforms to characterize themselves as generic technologies that nobody is responsible for or has ownership of, which isn't true. The equivalent to snail mail is something like https, smtp or ssl, not FB.
        eru 4y ago
        Snail mail is offered by specific companies or organisations. Eg https://en.wikipedia.org/wiki/People%27s_Commissariat_for_Communications https://en.wikipedia.org/wiki/People%27s_Commissariat_for_Co...
      - 4y ago
    - hansworst 4y ago
      I’m not really sure if I agree with this argument against Facebook. It’s true that Facebook had a part in this, but the same can be said for any kind of media for any given historical conflict. Here’s an article describing the effect radio had on the rise of Hitler: https://daily.jstor.org/an-affordable-radio-brought-nazi-propaganda-home/ https://daily.jstor.org/an-affordable-radio-brought-nazi-pro... A few years before these genocides, western media were praising Facebook for its role in the uprisings in the Middle East. It was seen as a force for good, allowing people to self organise against dictatorial regimes. Hell, back in the day the printing press pretty much brought down all of the power structures at the time, because suddenly people had more free access to information.
      - mhoad 4y ago
        I think there are some pretty meaningful differences here where Facebook has been repeatedly made aware of these problems prior to the fact and has consistently responded in the exact same manner by refusing to take any meaningful action and only trying to solve things in so much as it is a PR problem for them. It wasn’t even indifference, they actively undercut and mislead all of the supposed checks and balances they assured everyone were enough both internally and externally. When confronted they have lied to their internal teams, they have lied to lawmakers, they have lied to investors. It is always the same response. There is no room left to leave this as a “mistake that fell through the cracks”. It’s a pattern of behaviour that now spans many years and many incidents. All it has shown is that they appear both incapable and unwilling of reform and should be treated as such.
    - hulitu 4y ago
      Yes, but evil people started cutting the internet and the show had to continue (more restricted) on other stages. They learned nothing from Cambridge Analityca scandal.
  - gsatic 4y ago
    He is still a fool. He says he wakes up everyday felling like he is getting punched in the stomach. What more proof do you need?
    - solidasparagus 4y ago
      You don't have to like the man but, I think it's pretty clear that running any global social media company is miserable and filled with impossible decisions + people who will hate you no matter what choices you make. It sounds like many social media CEOs would agree that it's like getting punched in the stomach every day
      - TomSwirly 4y ago
        Oh, the poor, poor guy. /sarcasm He's had every chance to be a decent human being and he has rejected it. Facebook has been a force for tremendous evil in the world, and now he's trying to push this bullshit proprietary metaverse crap on us, just because. People hate him for who he is. He feels bad, and then continues doing the things that make us hate him, and that makes it worse.
        raspberry1337 4y ago
        >People hate him for who he is. He feels bad, and then continues doing the things that make us hate him, You truly hate Mark Zuckerberg huh, you must live a great life
      - blitzar 4y ago
        I am worth 1/billion of his net worth and every morning when I wake up I feel like I am getting punched in the stomach.
        bryanrasmussen 4y ago
        I wish this giant boot grinding me down into nothingness would allow me to stand up enough to get punched in the stomach for a bit.
  - noncoml 4y ago
    PIP is based on current performance. Not past.
- rapsey 4y ago
  It is still printing money though.
  - matwood 4y ago
    Yep. FB has issues, but people are dancing on its grave a little too early.
- paganel 4y ago
  He's too busy attending private gladiator-like fights (which the article mentions, btw). I know the FB pay is pretty damn good, but I guess it still sucks to see your CEO doing that while your job with the company might be on the line.
buscoquadnary 4y ago
It is sad but also was inevitable. The market could only sustain $150,000 a year salaries for grads fresh out of college for so long before someone somewhere along the way ran out of money. With rates going up there are places besides tech people can hope to park their money, the VC funding is going to disappear and with it some of the distortion of the market for developers. Just a reminder though this happened before in the 2000s with the dotcom crash, things worked out the world kept on spinning, society didn't collapse and many engineers were still able to eventually get new jobs and provide for their families. It will happen again.
- onion2k 4y ago
  Facebook stopped burning VC money a long time ago. They've been wildly profitable for years. Their success is largely because of paying high salaries to attract some of the best people, not in spite of doing that. The real issue seems to be that they're losing $3bn a quarter building the Metaverse (eg Reality Labs) at the same time as losing ad revenue because of things like Apple's antitracking changes and failing to innovate Instagram allowing competitors like TikTok to eat a big chunk of their market.
  - gregjor 4y ago
    "Best people" according to what metric, other than salary? Facebook got fat from advertising and monetizing the worst aspects of social media. Does that require the "best people?" What technology has Facebook developed with all of those "best people" that could compare to what Bell Labs did with a group of fewer than 10?
    - epicureanideal 4y ago
      I agree. Maybe best at grinding LeetCode, best at playing office politics, best at tolerating toxic work environments... But likely not best in actually building good software. No doubt quite good at that, but probably not meaningfully different than any other tech company in the area hiring from a similar talent pool. And because the candidates also need to be optimized for the qualities mentioned in the first paragraph, likely there’s a trade off where average software development skill ends up being lower due to needing to maximize other personality factors first.
jstx1 4y ago
The more precise title from the referenced article from two days ago: > Facebook is conducting 'quiet layoffs' by urging managers to label a certain number of workers as underperforming. The moves may lead to thousands of job cuts.
- thwarted 4y ago
  Sounds like stack ranking by another name.
- nivenkos 4y ago
  Isn't this illegal? Like redundancies are treated differently from firing due to failing job duties normally.
  - notacoward 4y ago
    > Isn't this illegal? It's actually a very tricky question. If the bonuses, perks, etc. for everyone are lowered, such that those at the low end cross the threshold of wanting to leave, then it's probably legal. If people at that low end are singled out for poor treatment, then it might be "constructive dismissal" and thus illegal in most jurisdictions. Facebook is probably treading as close to that line as they can, or (even more likely) stepping just a bit over and relying on lawyers to keep it from becoming too expensive. This is the barrier that class-action suits are meant to overcome, BTW.
asciimov 4y ago
Does Facebook spend any sort of money on R&D? I just can't fathom a company that once had a near trillion dollar market cap, not spending any of their resources to try to find their next big revenue stream. They should have been able to pivot to a plan B, (or C,D,E... etc). If you point to their 3d ventures, well, I've never seen it in person, so they are doing a lousy job of marketing it.
- username_my1 4y ago
  What?! They built a phone, copied or bought every social media they could, invented lots of tech (DB, react-native…), they’re spending everything on the meta verse That’s why they hired so many people
  - akmarinov 4y ago
    The tech like RN, GraphQL, doesn’t really bring them any money. And what is the metaverse really? How is it monetized? That’s OP’s point, aside from Facebook, everything they have is acquired - Whatsapp, Instagram, Occulus. And even within Instagram, they constantly just copy other apps - Snapchat stories, Tiktok for reels, etc Facebook can’t have an original idea to save their life
    - ianbutler 4y ago
      The meta verse will be monetized the same way Apple monetizes the App Store and anything else that goes on through their platform. A percentage cut of all transactions. That’s why a lot of companies are trying to make the meta verse work. If they’re successful in owning the meta verse they now have a nice big walled garden on which to extract continual rent from. It’s also very much not what the average person wants so we’ll see how it goes
- bushbaba 4y ago
  Google has been trying to diversify for over a decade. They are still mostly an ads company.
thrwawayacc 4y ago
amazon manager here: it's the same with us. our director gave told us to manage out more people this year to hit our revised headcount targets for next year. there are no layoffs, just larger-than-normal targets for managing out people. I talked with friends across various orgs and the targets seem to range between 10% to 25% for different teams (as opposed to 5% for normal years).
- goldenManatee 4y ago
  What is “manage out”? I haven’t heard this business double speak term.
- tux2bsd 4y ago
  - fortylove 4y ago
    Not a very nice comment. Definitely not a good way to phrase a comment meant at helping develop the best. FWIW, I think you used a comma instead of a period in your snipe. Would read better as: >Use proper capitalization or people won't believe "amazon manager here". Well... maybe they will. Or even: >Use proper capitalization or people won't believe "amazon manager here"... Well, maybe they will.
- bushbaba 4y ago
  Amazon is a big company. Need to preface that with what department. E.g. Alexa might be getting headcount trimmed. But other areas might see influx of investment. some Amazon teams had reduced PIP over the last year as well.
- ohgodplsno 4y ago
  "managing out" This is about the worst kind of doublespeak I have ever heard. It is actively malicious, the very thought of it brings images of purposeful abuse of employees. Seriously, just fire people.
  - 4y ago
robertwt7 4y ago
I’m not an expert at how facebook diversifies its income, but their R&D has produced a lot of insanely good outcome in engineering area. Meta ML, React, React Native, etc, howbare they not building income over these tools? Vercel or laravel seems to be making huge amount of money by building dev tools around their frameworks. Regardless of what they have done, I hope everyone affected is okay
- jmathai 4y ago
  At Facebook’s market cap, vercel and laravel are immaterial in terms of revenue. It’s very hard for a company of this size to find something to move the needle enough to make a difference. Look at Google. YouTube is worth $120 billion with a B and it is dwarfed by their ads business.
  - Gigachad 4y ago
    Are you excluding youtube adverts from that?
  - robertwt7 4y ago
    Yeah that make sense, but still a developer tooling aspect is huge and they can surely branch to cloud and other stuff as well across the stuff that they had found?
- searchableguy 4y ago
  They tried in the past. They used to have a bunch of PAAS and SAAS services which were shut down and open sourced subsequently.
- lm28469 4y ago
  > I’m not an expert at how facebook diversifies its income It's virtually all ads revenue, something like 97% of their revenues is from advertising
fny 4y ago
Facebook employs over 58K people. This is not a big deal especially considering tech went on a *massive* hiring binge recently. [0] Facebook had a recruiting crisis in 2021: https://www.protocol.com/workplace/facebook-docs-hiring-recruiting-crisis https://www.protocol.com/workplace/facebook-docs-hiring-recr... [1] Facebook aimed to hire 10K Europeans for metaverse in 2021: https://www.reuters.com/technology/facebook-plans-hire-10000-eu-build-metaverse-2021-10-17/ https://www.reuters.com/technology/facebook-plans-hire-10000... People underestimate just how much COVID and the rapid work-from-home shift distorted the economy. Everyone suddenly became cloud-first overnight and needed man power to make it happen.
- randomsearch 4y ago
  12 000 people out of 58 000 is “not a big deal”? It’s especially a big deal in the context of Facebook’s decline and bleak outlook. They’ve been outcompeted by TikTok, and their bet on VR looks misguided. Facebook look doomed, and this is a big step in that direction.
  - fny 4y ago
    They literally went on a hiring binge from 2020-2021, so... in my opinion, yes. Sure there's bleak outlook, but you have no idea how many people I know from different companies who jumped ship from some 2nd-3rd tier co to work for the big five or Zoom-like start up during COVID. Mind you, there was binge hiring even outside of the big five. Many high profile startups increased their workforces by 10-20% in less than a year... and my God you have no idea how many dumbass crypto initiatives launched at the same time.
    - ZephyrBlu 4y ago
      Exactly. A lot of people got a free lunch in the past couple of years because FAANG hiring (And the rest of the tech sector) went absolutely bonkers.
      - spaceman_2020 4y ago
shp0ngle 4y ago
Does anyone even remember Libra?
- randomsearch 4y ago
  Ironically, if they’d gone for normal boring payments like the Asian messaging apps, instead of following the crypto fashion, they’d be a giant bank by now.
  - zer0zzz 4y ago
    They did on WhatsApp for India and it’s the only somewhat successful system they have rolled out afaik.
  - lostmsu 4y ago
    Or they could have used an existing crypto instead of making up new one.
- tjpnz 4y ago
  AKA that time Facebook tried developing a payments product on the premise that KYC and AML laws didn't apply to them.
  - bigiain 4y ago
    To be fair, apart from pesky regulations and “outdated 1980s banking rules”, I’d bet Facebook do a way better job of “knowing their customer” than any traditional bank does…
fortylove 4y ago
Seeing giants fall like this, where they achieve the highest peaks imaginable, but then struggle to find the next thing that is suitably big enough to satisfy expectations makes me never want to reach mega success status if I ever start a startup.
- rchaud 4y ago
  Whose expectations? Do you want to build America's next top advertising company? Because that is what FB and Google did. Nothing else they have tried in ~20 years has come close to making any money.
- randomsearch 4y ago
  It’s like music. Most bands are capable of a great album, but the truly incredible artists can move from genre to genre constantly reinventing themselves. To create an org that can do the latter (hello, Apple) seems incredible difficult, but it always seems to involve exceptionally creative leaders. So the secret I think is to sell you mega status Facebook Borg and start afresh in a different area without the baggage of the previous app.
  - ferdek 4y ago
    > can move from genre to genre constantly reinventing themselves Sounds a little bit like Nokia, more than Apple. Paper mill, cable products, rubber boots, tires, TV, mobile phones... ;)
    - randomsearch 4y ago
      Ha, I’d say Nokia is more like a musician who becomes a farmer then an astronaut and then works in a pub. A bit random.
    - crims0n 4y ago
      Don't forget firewalls!
- netheril96 4y ago
paxys 4y ago
Firing low performers isn't a layoff. Several major companies like Amazon do this every 6-12 months, and it doesn't exactly make the news. While 15% might be extreme (and there's no reason to believe that will be the actual number) I don't think anyone can argue that Facebook has a LOT of fat that they can trim without material impact to any of their projects. Same goes for every other large company (Google for example) that has been overhiring for many years now and pretty much never fires people outside of the most extreme cases.
- bagels 4y ago
  It is when the performance definition changes. They are playing games to avoid the layoff label for political (ongoing perm lawsuit) and financial reasons (stock market signals and warn act)
- grey-area 4y ago
  15% of a workforce isn't a layoff? Companies always justify layoffs as clearing out dead wood/firing low performers etc etc, but the reality is once you start this sort of massive layoff good people will get caught in the crossfire (what if your department has no dead wood but you need to cut 1 in 10 people?), your best people leave, everyone else is dispirited and fearful and morale tanks.
- didibus 4y ago
  It seems these are job cuts, so it's not just replacing the bottom 15% with others, it's shrinking the size of every team down.
whoooooo123 4y ago
A contact of mine who works for Meta says that this has been coming for a long time and no-one is surprised. They're also rescinding internship offers (now THAT'S shitty) and freezing hiring. Absurdly, I'm told that the company is still planning on going ahead with booked job interviews, even when they won't be able to make an offer due to the hiring freeze. If you have an interview scheduled with FB I suggest not wasting your time.
- symlinkk 4y ago
  > If you have an interview scheduled with FB I suggest not wasting your time Good luck with your interview!
spaceman_2020 4y ago
Sad for the employees but a little part of my heart perks up whenever I hear any story of Facebook failing in any way.
- seydor 4y ago
  This is the kind of comment that gets a lot of likes and hearts on facebook
  - notacoward 4y ago
    For someone who once bemoaned the lack of deeper discussions, you sure throw out a lot of flippant one-liners yourself.
    - seydor 4y ago
      Blunt does not equal disrespectful. You are being flippant by making it personal. One can convey meaning without writing pages of text. I will keep doing so
- type0 4y ago
  I hope they will be like Friendster
- TomSwirly 4y ago
  Me, too. So many of my friends have said much the same thing, too. Facebook has gone out of their way to be as horrible as possible. And their product is miserable, and they never update the user side. The last significant change was to add emojis six years ago, and that took them many years to do. If they didn't have an effective monopoly, they'd be long gone.
  - rabite 4y ago
    Never updating the user side is a positive signal for a social media company. Redesigns, even objectively superior ones, are frequently catastrophically received by users, and significant alterations to app experience can cause user flight. The actual need to update the user side is questionable.
qikInNdOutReply 4y ago
They going to carry that culture into any new company they go. You can already feel the likes of discord getting dark patterned, ABtested and starting to die. Sorry to say it, but no matter the skill, if you worked at FB, you might not actually be a culture fit for many companys, who want to grow beyond local minima.
- djohnston 4y ago
  Are you indeed sorry to say it?
- notacoward 4y ago
  > no matter the skill ...and yet, you seem entirely focused on front-end development. "Dark patterns" aren't even an operative concept in infra. It's "not even wrong" territory. I worked on storage at FB for 3.5 years. It was very little different than the work I'd done at a dozen other companies over three decades. For the first half it was literally the same role on the same open-source project I'd worked on at Red Hat. For the second half the only real differences were scale and some details of interacting with other infra (as would be the case for any job/project anywhere). How does any of that make me any less of a culture fit at another company than I was before? It's a moot point for me personally because I left by retiring, but this "permanently tainted" attitude needs to die. It's the basis of every "ism" that afflicts society. Either people can change or they can't. If they can, they can change back or even go beyond where they were before. If they can't, then there was never an issue to begin with. Either way, permanent hate is not going to improve the world.
- emptysea 4y ago
  Curious what dark patterns you’ve noticed in Discord?
karmasimida 4y ago
Ideology apart, Facebook, the product itself is really uninspiring and uninteresting and irrelevant to me and my circle for at least 2 years. Copying TikTok won't save it from becoming irrelevant
- didibus 4y ago
  They also own Instagram and WhatsApp, and I think their copy of tiktok is their Reels feature that's already been out on Instagram for a while.
therusskiy 4y ago
With everyone criticizing Facebook for bad it is for society, are there examples of Social Networks that you think do good?
- rightbyte 4y ago
  Most physical ones I guess? Many online forums are kinda social networks.
- itronitron 4y ago
  social networks? sure. Social Media platforms? no.
- frankthedog 4y ago
  Community foundations, neighborhoods with neighbors who care about each other, recreational sports leagues, activity clubs, temples synagogues and churches. There are many, but they’re often not behind the piece of magic glass in our hands.
- avisser 4y ago
  Hacker News ain't that bad.
- rchaud 4y ago
  It's not about "doing good", it's about "preventing harm", which FB has failed at doing at a staggering scale.
pyb 4y ago
The FAANG paradox : these companies all have this performance-intensive culture with the gruelling interview, "perf cycles", promotion processes, OKRs, etc... to ensure all engineers function at the top of their capacity. At the same time, their new public facing products have been mostly underwhelming over the last decade. It seems most of the innovation occurred back when FAANGs were 10-100x smaller. (The AI work is one exception)
- yaseer 4y ago
  It's interesting to see how Big Tech firms can struggle with innovation as they scale, but perhaps for different reasons. Facebook has lacked innovation for quite a while, first relying on acquisitions, then brazenly copying other social media company innovations (e.g. Snapchat, TikTok) Google innovates, then seems to give up on products way too early. It's almost as if their management culture has forgotten that new products need iteration. Amazon, to their credit, have managed to innovate better than these two (e.g. AWS, Kindle, Alexa devices). They started off as a book store, yet somehow became a Tech conglomerate.
- mjburgess 4y ago
  This I think is a bit like the "IQ selection" phenomenon, where if we suppose IQ actually measures (say,) test-taking ability rather than some complex notion of intelligence... then we find places that try to filter on IQ (law schools, med schools, FAANG) end up selecting for uncreative kinds of intelligence. As a bold, perhaps wrong hypothesis, this might be in play here. We have the very best leet-coders, but the very worst programmers: in that sense of programming Peter-Naur called "theory building". An activity which is perhaps the most comprehensively demanding on the intellect. Not rehearsing the techniques and solutions of others, but innovating oneself in the face of ambiguity and ill-posed problems. Perhaps the worst sin of IQ-test-like processes is that they use questions with answers to test intelligence -- which if it is anything at all, is what one uses in the face of the lack of questions with answers.
  - afiori 4y ago
    Probably if you filter by raw IQ (either yours or others definition) you would get a lot of imaginative people as most intellectual faculties are positively correlated with each others. On the other hand if it turns out that you are actually filtering by "willingness to take years of testing" then you might get different results
pembrook 4y ago
It’s crazy to me how Facebook has so many employees when their entire business is basically managing 3 software products (Facebook, instagram and the advertising platform). Meanwhile I think Apple has about the same number of employees if you subtract the retail Apple store workers. Yet, Apple’s business is comprised of managing, and this is only a rough guess: - 30+ hardware products and their supply chain, marketing and distribution - A microprocessor and component design business - 3 entire operating systems and developer tools and app store sales infrastructure for each - 50+ software products and services, including competitors for Microsoft office suite, Netflix, Spotify, Google Chrome, Dropbox, Adobe Premier, Zoom, and more - a film & tv production business - a massive physical retail store footprint - a global e-commerce store - I’m sure I’m forgetting something else
- ksec 4y ago
  Maps, Siri, iCloud, ApplePay, Apple Card, Apple Pay Later, Apple Cash. AppleNews. Apple Fitness Apple Arcade.
- marban 4y ago
  Adobe, on the other hand, with its ~26k headcount is juggling an astonishing range of products and services it seems.
  - oblio 4y ago
    Adobe's the most forgotten and ignored tech company that actually makes staple software products and services, I think. No matter how much people hate their price gouging :-)
    - DrewADesign 4y ago
      Some call it price gouging and some call it a subscription to professional software that's constantly under significant development. Other professional tools in adjacent industries cost a LOT MORE. Nuke Studio, for example, costs 4k/quarter. Sure Adobe should focus more on old usability issues in lieu of new features and many of their programs have such broad userbases that they couldn't possibly focus equally on everything their users want them to focus on, but when it comes down to it, people are mad because it's something they want, but not enough to pay for. Looking at their uservoice forums for 5 minutes dispenses with the notion that they're just giving these apps the bare minimum amount of work and using them as cash cows. There are cheaper or FOSS alternatives that suit most non-professional's needs but if you want Adobe's professional tools and have those tools keep up with our ever changing technical landscape, that costs money. I professionally use Photoshop, Illustrator, InDesign, Premier Pro, After Effects, Audition, Acrobat, Lightroom Classic and XD, so the CC subscription is an absolute bargain.
unity1001 4y ago
Isn't this the result of the artificial bloat that was in the US economy before the whole domination of the dollar as reserve currency thing came crashing down? Just a few months ago, dollar was the uncontested reserve currency, allowing the US financial institutions - including the Fed - to inject cash into the economy in whatever way including fractional reserve lending. Inflation just didn't go up. A lot of money to invest. Resulting in a bloated stock market with immense 'valuations' with little profit to show for the valuation. Now the Ukraine war, sanctions, various countries moving to trade in their own currencies, and voila - all the dollars that were being used to trade before are unused and they are flowing back to the US, causing inflation. The bloated stock economy is going down, and the companies that used to float on the bloated value of their capital are feeling the squeeze - Facebook, Twitter, Google... This may result in an adjustment in the economy with normalized valuations, salaries, prices and monetary compensation in the long run. It feels like its just cutting the fluff out of the bloated economy that ran on inflated stock values. But in the end, the resulting environment should not be too different than the former one - just without the bloat. How would this affect the investment in tech, is an open question though. It would probably end up like how it is in other regions of the world - still high, profitable and lucrative, however, less bloated. Like in Europe, China and anywhere else.
- warcher 4y ago
  Dollar was way up as a global reserve currency relative to the euro, yen, yuan, pound last I checked. Did something change in the past few days?
  - unity1001 4y ago
    Euro's crash is because of the pipeline sabotage - European industry is literally shutting down. And some manufacturers are moving their factories to the US. Hence the disparage. However at large, countries in Asia, Middle East and the Global South have moved a lot of trading to their own currencies or using Yuan. This immediately caused the inflation in the us starting from a few months ago.
nobodyandproud 4y ago
If you’re PIP’d then fired, are ineligible for unemployment? Is this to save money on unemployment payments?
- nativespecies 4y ago
  Employer pays into UI while you're employed, not after.
seydor 4y ago
The wealth redistribution machine is tapering

264 points by cromat3 4y ago

This news has been submitted multiple times over the last couple of days. The submission with the most comments, 35: https://news.ycombinator.com/item?id=33087097 https://news.ycombinator.com/item?id=33087097

Yuioup 4y ago

deleted 4y ago
[deleted]

noncoml 4y ago

Maybe Zuck should put himself on PIP as it’s obvious he needs support. He had a money printing machine and managed to fuck it up.

jmathai 4y ago
I worked at Yahoo! when the company offered to acquire Facebook for $1.4 billion. Most thought Zuck was a fool to pass on that. He 300x’d it in 10 years.
- mhoad 4y ago
  And just think all it took was a couple of genocides, breaking society and becoming one of the most despised people in the world.
  - Jorengarenar 4y ago
    Genocides?
    - bagels 4y ago
      www.washingtonpost.com Facebook sued by Rohingya refugees for role in alleged Myanmar genocide
    - camillomiller 4y ago
      Yes genocides. Facebook played a pivotal role in the Rohingya genocide in Myanmar. They even admitted to that, but nobody gives a flying f.
      - eru 4y ago
        Snail mail played a vital role in the administrations of Nazi Germany and Soviet Russia. Is that different or comparable?
        analognoise 4y ago
        No that's different. What would be closer was IBM working with the Nazis: https://en.m.wikipedia.org/wiki/IBM_and_the_Holocaust https://en.m.wikipedia.org/wiki/IBM_and_the_Holocaust
        Barrin92 4y ago
        It's different because nobody is in charge of snail mail which is merely a technology. Internet platforms have designs, incentives and people in charge for each aspect of their operation. They can chose what to amplify or not. It's been a convenient excuse of internet platforms to characterize themselves as generic technologies that nobody is responsible for or has ownership of, which isn't true. The equivalent to snail mail is something like https, smtp or ssl, not FB.
        eru 4y ago
        Snail mail is offered by specific companies or organisations. Eg https://en.wikipedia.org/wiki/People%27s_Commissariat_for_Communications https://en.wikipedia.org/wiki/People%27s_Commissariat_for_Co...
    - 4y ago
  - hansworst 4y ago
    I’m not really sure if I agree with this argument against Facebook. It’s true that Facebook had a part in this, but the same can be said for any kind of media for any given historical conflict. Here’s an article describing the effect radio had on the rise of Hitler: https://daily.jstor.org/an-affordable-radio-brought-nazi-propaganda-home/ https://daily.jstor.org/an-affordable-radio-brought-nazi-pro... A few years before these genocides, western media were praising Facebook for its role in the uprisings in the Middle East. It was seen as a force for good, allowing people to self organise against dictatorial regimes. Hell, back in the day the printing press pretty much brought down all of the power structures at the time, because suddenly people had more free access to information.
    - mhoad 4y ago
      I think there are some pretty meaningful differences here where Facebook has been repeatedly made aware of these problems prior to the fact and has consistently responded in the exact same manner by refusing to take any meaningful action and only trying to solve things in so much as it is a PR problem for them. It wasn’t even indifference, they actively undercut and mislead all of the supposed checks and balances they assured everyone were enough both internally and externally. When confronted they have lied to their internal teams, they have lied to lawmakers, they have lied to investors. It is always the same response. There is no room left to leave this as a “mistake that fell through the cracks”. It’s a pattern of behaviour that now spans many years and many incidents. All it has shown is that they appear both incapable and unwilling of reform and should be treated as such.
  - hulitu 4y ago
    Yes, but evil people started cutting the internet and the show had to continue (more restricted) on other stages. They learned nothing from Cambridge Analityca scandal.
- gsatic 4y ago
  He is still a fool. He says he wakes up everyday felling like he is getting punched in the stomach. What more proof do you need?
  - solidasparagus 4y ago
    You don't have to like the man but, I think it's pretty clear that running any global social media company is miserable and filled with impossible decisions + people who will hate you no matter what choices you make. It sounds like many social media CEOs would agree that it's like getting punched in the stomach every day
    - TomSwirly 4y ago
      Oh, the poor, poor guy. /sarcasm He's had every chance to be a decent human being and he has rejected it. Facebook has been a force for tremendous evil in the world, and now he's trying to push this bullshit proprietary metaverse crap on us, just because. People hate him for who he is. He feels bad, and then continues doing the things that make us hate him, and that makes it worse.
      - raspberry1337 4y ago
        >People hate him for who he is. He feels bad, and then continues doing the things that make us hate him, You truly hate Mark Zuckerberg huh, you must live a great life
    - blitzar 4y ago
      I am worth 1/billion of his net worth and every morning when I wake up I feel like I am getting punched in the stomach.
      - bryanrasmussen 4y ago
        I wish this giant boot grinding me down into nothingness would allow me to stand up enough to get punched in the stomach for a bit.
- noncoml 4y ago
  PIP is based on current performance. Not past.
rapsey 4y ago
It is still printing money though.
- matwood 4y ago
  Yep. FB has issues, but people are dancing on its grave a little too early.
paganel 4y ago
He's too busy attending private gladiator-like fights (which the article mentions, btw). I know the FB pay is pretty damn good, but I guess it still sucks to see your CEO doing that while your job with the company might be on the line.

buscoquadnary 4y ago

It is sad but also was inevitable. The market could only sustain $150,000 a year salaries for grads fresh out of college for so long before someone somewhere along the way ran out of money. With rates going up there are places besides tech people can hope to park their money, the VC funding is going to disappear and with it some of the distortion of the market for developers. Just a reminder though this happened before in the 2000s with the dotcom crash, things worked out the world kept on spinning, society didn't collapse and many engineers were still able to eventually get new jobs and provide for their families. It will happen again.

onion2k 4y ago
Facebook stopped burning VC money a long time ago. They've been wildly profitable for years. Their success is largely because of paying high salaries to attract some of the best people, not in spite of doing that. The real issue seems to be that they're losing $3bn a quarter building the Metaverse (eg Reality Labs) at the same time as losing ad revenue because of things like Apple's antitracking changes and failing to innovate Instagram allowing competitors like TikTok to eat a big chunk of their market.
- gregjor 4y ago
  "Best people" according to what metric, other than salary? Facebook got fat from advertising and monetizing the worst aspects of social media. Does that require the "best people?" What technology has Facebook developed with all of those "best people" that could compare to what Bell Labs did with a group of fewer than 10?
  - epicureanideal 4y ago
    I agree. Maybe best at grinding LeetCode, best at playing office politics, best at tolerating toxic work environments... But likely not best in actually building good software. No doubt quite good at that, but probably not meaningfully different than any other tech company in the area hiring from a similar talent pool. And because the candidates also need to be optimized for the qualities mentioned in the first paragraph, likely there’s a trade off where average software development skill ends up being lower due to needing to maximize other personality factors first.

jstx1 4y ago

The more precise title from the referenced article from two days ago: > Facebook is conducting 'quiet layoffs' by urging managers to label a certain number of workers as underperforming. The moves may lead to thousands of job cuts.

thwarted 4y ago
Sounds like stack ranking by another name.
nivenkos 4y ago
Isn't this illegal? Like redundancies are treated differently from firing due to failing job duties normally.
- notacoward 4y ago
  > Isn't this illegal? It's actually a very tricky question. If the bonuses, perks, etc. for everyone are lowered, such that those at the low end cross the threshold of wanting to leave, then it's probably legal. If people at that low end are singled out for poor treatment, then it might be "constructive dismissal" and thus illegal in most jurisdictions. Facebook is probably treading as close to that line as they can, or (even more likely) stepping just a bit over and relying on lawyers to keep it from becoming too expensive. This is the barrier that class-action suits are meant to overcome, BTW.

asciimov 4y ago

Does Facebook spend any sort of money on R&D? I just can't fathom a company that once had a near trillion dollar market cap, not spending any of their resources to try to find their next big revenue stream. They should have been able to pivot to a plan B, (or C,D,E... etc). If you point to their 3d ventures, well, I've never seen it in person, so they are doing a lousy job of marketing it.

username_my1 4y ago
What?! They built a phone, copied or bought every social media they could, invented lots of tech (DB, react-native…), they’re spending everything on the meta verse That’s why they hired so many people
- akmarinov 4y ago
  The tech like RN, GraphQL, doesn’t really bring them any money. And what is the metaverse really? How is it monetized? That’s OP’s point, aside from Facebook, everything they have is acquired - Whatsapp, Instagram, Occulus. And even within Instagram, they constantly just copy other apps - Snapchat stories, Tiktok for reels, etc Facebook can’t have an original idea to save their life
  - ianbutler 4y ago
    The meta verse will be monetized the same way Apple monetizes the App Store and anything else that goes on through their platform. A percentage cut of all transactions. That’s why a lot of companies are trying to make the meta verse work. If they’re successful in owning the meta verse they now have a nice big walled garden on which to extract continual rent from. It’s also very much not what the average person wants so we’ll see how it goes
bushbaba 4y ago
Google has been trying to diversify for over a decade. They are still mostly an ads company.

thrwawayacc 4y ago

amazon manager here: it's the same with us. our director gave told us to manage out more people this year to hit our revised headcount targets for next year. there are no layoffs, just larger-than-normal targets for managing out people. I talked with friends across various orgs and the targets seem to range between 10% to 25% for different teams (as opposed to 5% for normal years).

goldenManatee 4y ago
What is “manage out”? I haven’t heard this business double speak term.
tux2bsd 4y ago
- fortylove 4y ago
  Not a very nice comment. Definitely not a good way to phrase a comment meant at helping develop the best. FWIW, I think you used a comma instead of a period in your snipe. Would read better as: >Use proper capitalization or people won't believe "amazon manager here". Well... maybe they will. Or even: >Use proper capitalization or people won't believe "amazon manager here"... Well, maybe they will.
bushbaba 4y ago
Amazon is a big company. Need to preface that with what department. E.g. Alexa might be getting headcount trimmed. But other areas might see influx of investment. some Amazon teams had reduced PIP over the last year as well.
ohgodplsno 4y ago
"managing out" This is about the worst kind of doublespeak I have ever heard. It is actively malicious, the very thought of it brings images of purposeful abuse of employees. Seriously, just fire people.
- 4y ago

robertwt7 4y ago

I’m not an expert at how facebook diversifies its income, but their R&D has produced a lot of insanely good outcome in engineering area. Meta ML, React, React Native, etc, howbare they not building income over these tools? Vercel or laravel seems to be making huge amount of money by building dev tools around their frameworks. Regardless of what they have done, I hope everyone affected is okay

jmathai 4y ago
At Facebook’s market cap, vercel and laravel are immaterial in terms of revenue. It’s very hard for a company of this size to find something to move the needle enough to make a difference. Look at Google. YouTube is worth $120 billion with a B and it is dwarfed by their ads business.
- Gigachad 4y ago
  Are you excluding youtube adverts from that?
- robertwt7 4y ago
  Yeah that make sense, but still a developer tooling aspect is huge and they can surely branch to cloud and other stuff as well across the stuff that they had found?
searchableguy 4y ago
They tried in the past. They used to have a bunch of PAAS and SAAS services which were shut down and open sourced subsequently.
lm28469 4y ago
> I’m not an expert at how facebook diversifies its income It's virtually all ads revenue, something like 97% of their revenues is from advertising

fny 4y ago

Facebook employs over 58K people. This is not a big deal especially considering tech went on a *massive* hiring binge recently. [0] Facebook had a recruiting crisis in 2021: https://www.protocol.com/workplace/facebook-docs-hiring-recruiting-crisis https://www.protocol.com/workplace/facebook-docs-hiring-recr... [1] Facebook aimed to hire 10K Europeans for metaverse in 2021: https://www.reuters.com/technology/facebook-plans-hire-10000-eu-build-metaverse-2021-10-17/ https://www.reuters.com/technology/facebook-plans-hire-10000... People underestimate just how much COVID and the rapid work-from-home shift distorted the economy. Everyone suddenly became cloud-first overnight and needed man power to make it happen.

randomsearch 4y ago
12 000 people out of 58 000 is “not a big deal”? It’s especially a big deal in the context of Facebook’s decline and bleak outlook. They’ve been outcompeted by TikTok, and their bet on VR looks misguided. Facebook look doomed, and this is a big step in that direction.
- fny 4y ago
  They literally went on a hiring binge from 2020-2021, so... in my opinion, yes. Sure there's bleak outlook, but you have no idea how many people I know from different companies who jumped ship from some 2nd-3rd tier co to work for the big five or Zoom-like start up during COVID. Mind you, there was binge hiring even outside of the big five. Many high profile startups increased their workforces by 10-20% in less than a year... and my God you have no idea how many dumbass crypto initiatives launched at the same time.
  - ZephyrBlu 4y ago
    Exactly. A lot of people got a free lunch in the past couple of years because FAANG hiring (And the rest of the tech sector) went absolutely bonkers.
    - spaceman_2020 4y ago

shp0ngle 4y ago

Does anyone even remember Libra?

randomsearch 4y ago
Ironically, if they’d gone for normal boring payments like the Asian messaging apps, instead of following the crypto fashion, they’d be a giant bank by now.
- zer0zzz 4y ago
  They did on WhatsApp for India and it’s the only somewhat successful system they have rolled out afaik.
- lostmsu 4y ago
  Or they could have used an existing crypto instead of making up new one.
tjpnz 4y ago
AKA that time Facebook tried developing a payments product on the premise that KYC and AML laws didn't apply to them.
- bigiain 4y ago
  To be fair, apart from pesky regulations and “outdated 1980s banking rules”, I’d bet Facebook do a way better job of “knowing their customer” than any traditional bank does…

fortylove 4y ago

Seeing giants fall like this, where they achieve the highest peaks imaginable, but then struggle to find the next thing that is suitably big enough to satisfy expectations makes me never want to reach mega success status if I ever start a startup.

rchaud 4y ago
Whose expectations? Do you want to build America's next top advertising company? Because that is what FB and Google did. Nothing else they have tried in ~20 years has come close to making any money.
randomsearch 4y ago
It’s like music. Most bands are capable of a great album, but the truly incredible artists can move from genre to genre constantly reinventing themselves. To create an org that can do the latter (hello, Apple) seems incredible difficult, but it always seems to involve exceptionally creative leaders. So the secret I think is to sell you mega status Facebook Borg and start afresh in a different area without the baggage of the previous app.
- ferdek 4y ago
  > can move from genre to genre constantly reinventing themselves Sounds a little bit like Nokia, more than Apple. Paper mill, cable products, rubber boots, tires, TV, mobile phones... ;)
  - randomsearch 4y ago
    Ha, I’d say Nokia is more like a musician who becomes a farmer then an astronaut and then works in a pub. A bit random.
  - crims0n 4y ago
    Don't forget firewalls!
netheril96 4y ago

paxys 4y ago

Firing low performers isn't a layoff. Several major companies like Amazon do this every 6-12 months, and it doesn't exactly make the news. While 15% might be extreme (and there's no reason to believe that will be the actual number) I don't think anyone can argue that Facebook has a LOT of fat that they can trim without material impact to any of their projects. Same goes for every other large company (Google for example) that has been overhiring for many years now and pretty much never fires people outside of the most extreme cases.

bagels 4y ago
It is when the performance definition changes. They are playing games to avoid the layoff label for political (ongoing perm lawsuit) and financial reasons (stock market signals and warn act)
grey-area 4y ago
15% of a workforce isn't a layoff? Companies always justify layoffs as clearing out dead wood/firing low performers etc etc, but the reality is once you start this sort of massive layoff good people will get caught in the crossfire (what if your department has no dead wood but you need to cut 1 in 10 people?), your best people leave, everyone else is dispirited and fearful and morale tanks.
didibus 4y ago
It seems these are job cuts, so it's not just replacing the bottom 15% with others, it's shrinking the size of every team down.

whoooooo123 4y ago

A contact of mine who works for Meta says that this has been coming for a long time and no-one is surprised. They're also rescinding internship offers (now THAT'S shitty) and freezing hiring. Absurdly, I'm told that the company is still planning on going ahead with booked job interviews, even when they won't be able to make an offer due to the hiring freeze. If you have an interview scheduled with FB I suggest not wasting your time.

symlinkk 4y ago
> If you have an interview scheduled with FB I suggest not wasting your time Good luck with your interview!

spaceman_2020 4y ago

Sad for the employees but a little part of my heart perks up whenever I hear any story of Facebook failing in any way.

seydor 4y ago
This is the kind of comment that gets a lot of likes and hearts on facebook
- notacoward 4y ago
  For someone who once bemoaned the lack of deeper discussions, you sure throw out a lot of flippant one-liners yourself.
  - seydor 4y ago
    Blunt does not equal disrespectful. You are being flippant by making it personal. One can convey meaning without writing pages of text. I will keep doing so
type0 4y ago
I hope they will be like Friendster
TomSwirly 4y ago
Me, too. So many of my friends have said much the same thing, too. Facebook has gone out of their way to be as horrible as possible. And their product is miserable, and they never update the user side. The last significant change was to add emojis six years ago, and that took them many years to do. If they didn't have an effective monopoly, they'd be long gone.
- rabite 4y ago
  Never updating the user side is a positive signal for a social media company. Redesigns, even objectively superior ones, are frequently catastrophically received by users, and significant alterations to app experience can cause user flight. The actual need to update the user side is questionable.

qikInNdOutReply 4y ago

They going to carry that culture into any new company they go. You can already feel the likes of discord getting dark patterned, ABtested and starting to die. Sorry to say it, but no matter the skill, if you worked at FB, you might not actually be a culture fit for many companys, who want to grow beyond local minima.

djohnston 4y ago
Are you indeed sorry to say it?
notacoward 4y ago
> no matter the skill ...and yet, you seem entirely focused on front-end development. "Dark patterns" aren't even an operative concept in infra. It's "not even wrong" territory. I worked on storage at FB for 3.5 years. It was very little different than the work I'd done at a dozen other companies over three decades. For the first half it was literally the same role on the same open-source project I'd worked on at Red Hat. For the second half the only real differences were scale and some details of interacting with other infra (as would be the case for any job/project anywhere). How does any of that make me any less of a culture fit at another company than I was before? It's a moot point for me personally because I left by retiring, but this "permanently tainted" attitude needs to die. It's the basis of every "ism" that afflicts society. Either people can change or they can't. If they can, they can change back or even go beyond where they were before. If they can't, then there was never an issue to begin with. Either way, permanent hate is not going to improve the world.
emptysea 4y ago
Curious what dark patterns you’ve noticed in Discord?

karmasimida 4y ago

Ideology apart, Facebook, the product itself is really uninspiring and uninteresting and irrelevant to me and my circle for at least 2 years. Copying TikTok won't save it from becoming irrelevant

didibus 4y ago
They also own Instagram and WhatsApp, and I think their copy of tiktok is their Reels feature that's already been out on Instagram for a while.

therusskiy 4y ago

With everyone criticizing Facebook for bad it is for society, are there examples of Social Networks that you think do good?

rightbyte 4y ago
Most physical ones I guess? Many online forums are kinda social networks.
itronitron 4y ago
social networks? sure. Social Media platforms? no.
frankthedog 4y ago
Community foundations, neighborhoods with neighbors who care about each other, recreational sports leagues, activity clubs, temples synagogues and churches. There are many, but they’re often not behind the piece of magic glass in our hands.
avisser 4y ago
Hacker News ain't that bad.
rchaud 4y ago
It's not about "doing good", it's about "preventing harm", which FB has failed at doing at a staggering scale.

pyb 4y ago

The FAANG paradox : these companies all have this performance-intensive culture with the gruelling interview, "perf cycles", promotion processes, OKRs, etc... to ensure all engineers function at the top of their capacity. At the same time, their new public facing products have been mostly underwhelming over the last decade. It seems most of the innovation occurred back when FAANGs were 10-100x smaller. (The AI work is one exception)

yaseer 4y ago
It's interesting to see how Big Tech firms can struggle with innovation as they scale, but perhaps for different reasons. Facebook has lacked innovation for quite a while, first relying on acquisitions, then brazenly copying other social media company innovations (e.g. Snapchat, TikTok) Google innovates, then seems to give up on products way too early. It's almost as if their management culture has forgotten that new products need iteration. Amazon, to their credit, have managed to innovate better than these two (e.g. AWS, Kindle, Alexa devices). They started off as a book store, yet somehow became a Tech conglomerate.
mjburgess 4y ago
This I think is a bit like the "IQ selection" phenomenon, where if we suppose IQ actually measures (say,) test-taking ability rather than some complex notion of intelligence... then we find places that try to filter on IQ (law schools, med schools, FAANG) end up selecting for uncreative kinds of intelligence. As a bold, perhaps wrong hypothesis, this might be in play here. We have the very best leet-coders, but the very worst programmers: in that sense of programming Peter-Naur called "theory building". An activity which is perhaps the most comprehensively demanding on the intellect. Not rehearsing the techniques and solutions of others, but innovating oneself in the face of ambiguity and ill-posed problems. Perhaps the worst sin of IQ-test-like processes is that they use questions with answers to test intelligence -- which if it is anything at all, is what one uses in the face of the lack of questions with answers.
- afiori 4y ago
  Probably if you filter by raw IQ (either yours or others definition) you would get a lot of imaginative people as most intellectual faculties are positively correlated with each others. On the other hand if it turns out that you are actually filtering by "willingness to take years of testing" then you might get different results

pembrook 4y ago

It’s crazy to me how Facebook has so many employees when their entire business is basically managing 3 software products (Facebook, instagram and the advertising platform). Meanwhile I think Apple has about the same number of employees if you subtract the retail Apple store workers. Yet, Apple’s business is comprised of managing, and this is only a rough guess: - 30+ hardware products and their supply chain, marketing and distribution - A microprocessor and component design business - 3 entire operating systems and developer tools and app store sales infrastructure for each - 50+ software products and services, including competitors for Microsoft office suite, Netflix, Spotify, Google Chrome, Dropbox, Adobe Premier, Zoom, and more - a film & tv production business - a massive physical retail store footprint - a global e-commerce store - I’m sure I’m forgetting something else

ksec 4y ago
Maps, Siri, iCloud, ApplePay, Apple Card, Apple Pay Later, Apple Cash. AppleNews. Apple Fitness Apple Arcade.
marban 4y ago
Adobe, on the other hand, with its ~26k headcount is juggling an astonishing range of products and services it seems.
- oblio 4y ago
  Adobe's the most forgotten and ignored tech company that actually makes staple software products and services, I think. No matter how much people hate their price gouging :-)
  - DrewADesign 4y ago
    Some call it price gouging and some call it a subscription to professional software that's constantly under significant development. Other professional tools in adjacent industries cost a LOT MORE. Nuke Studio, for example, costs 4k/quarter. Sure Adobe should focus more on old usability issues in lieu of new features and many of their programs have such broad userbases that they couldn't possibly focus equally on everything their users want them to focus on, but when it comes down to it, people are mad because it's something they want, but not enough to pay for. Looking at their uservoice forums for 5 minutes dispenses with the notion that they're just giving these apps the bare minimum amount of work and using them as cash cows. There are cheaper or FOSS alternatives that suit most non-professional's needs but if you want Adobe's professional tools and have those tools keep up with our ever changing technical landscape, that costs money. I professionally use Photoshop, Illustrator, InDesign, Premier Pro, After Effects, Audition, Acrobat, Lightroom Classic and XD, so the CC subscription is an absolute bargain.

unity1001 4y ago

Isn't this the result of the artificial bloat that was in the US economy before the whole domination of the dollar as reserve currency thing came crashing down? Just a few months ago, dollar was the uncontested reserve currency, allowing the US financial institutions - including the Fed - to inject cash into the economy in whatever way including fractional reserve lending. Inflation just didn't go up. A lot of money to invest. Resulting in a bloated stock market with immense 'valuations' with little profit to show for the valuation. Now the Ukraine war, sanctions, various countries moving to trade in their own currencies, and voila - all the dollars that were being used to trade before are unused and they are flowing back to the US, causing inflation. The bloated stock economy is going down, and the companies that used to float on the bloated value of their capital are feeling the squeeze - Facebook, Twitter, Google... This may result in an adjustment in the economy with normalized valuations, salaries, prices and monetary compensation in the long run. It feels like its just cutting the fluff out of the bloated economy that ran on inflated stock values. But in the end, the resulting environment should not be too different than the former one - just without the bloat. How would this affect the investment in tech, is an open question though. It would probably end up like how it is in other regions of the world - still high, profitable and lucrative, however, less bloated. Like in Europe, China and anywhere else.

warcher 4y ago
Dollar was way up as a global reserve currency relative to the euro, yen, yuan, pound last I checked. Did something change in the past few days?
- unity1001 4y ago
  Euro's crash is because of the pipeline sabotage - European industry is literally shutting down. And some manufacturers are moving their factories to the US. Hence the disparage. However at large, countries in Asia, Middle East and the Global South have moved a lot of trading to their own currencies or using Yuan. This immediately caused the inflation in the us starting from a few months ago.

nobodyandproud 4y ago

If you’re PIP’d then fired, are ineligible for unemployment? Is this to save money on unemployment payments?

nativespecies 4y ago
Employer pays into UI while you're employed, not after.

seydor 4y ago

The wealth redistribution machine is tapering