8 ms·
If you look at Meta, even after these layoffs they've grown by 17% per year since 2019. It's bad for the people affected, but if you look at the big picture it'
by FartyMcFarter 4y ago
If you look at Meta, even after these layoffs they've grown by 17% per year since 2019. It's bad for the people affected, but if you look at the big picture it's hard to call this a crash for now.
- brtkdotse 4y agoCan’t find the source but Hard Fork podcast said that after these layoffs Meta headcount is down to where they were in March THIS YEAR
- Spooky23 4y agoI think remote made hiring easier by removing the constraint of office space. I’m in the process of hiring a few hundred people - we’d never be this far down the funnel in 2019 because we’d be out of desks.
- jeltz 4y agoIt would not surprise me. Meta have been hiring like crazy this year. No wonder thet had to do layoffs. Just simple missmamgemnet where they hired too fast, nothing more.
- jokethrowaway 4y agoIt doesn't seem like we're done yet with interest rates. The more that happens the more the industry will chill. Will variable rates mortgages and wealthy tech workers end up paying for the covid lockdowns and government excesses?
- arcticbull 4y agoPeople are overwhelmingly in fixed rate debt this time, and lending standards tightened meaningfully after 2008. I wouldn't bet on that being a catalyst. [edit] We're talking like 2-4% of originations have been ARMs from 2009 onward, vs. a peak of 35% in 2004-2007.
- theGnuMe 4y agoThe issue is that people will be stuck for 5-10 years in their current house. There will be limited new construction and eventually remodeling will stop. Watch the numbers out of Home Depot and Lowes.
- sokoloff 4y agoHigh income (rather than wealthy) people are going to be the ones paying for government.
- epolanski 4y agoAlso, IT and R&D has been likely impacted less than other departments like HR and recruiting. There's no doubt that for the next few years we're not gonna see the levels of compensation raise we've seen in the last 24 months, but it's not "end of an era" rather than a correction imho.
- georgeplusplus 4y agoIt's not a recession, it's just two quarters of consecutive falling GDP. Screw what the textbooks say. It's only a correction.
- deleted 4y ago[deleted]
- dr_dshiv 4y agoYeah, but a few more disorganized unwinding events like ftx and things could keep correcting for a while to come.
- nibbleshifter 4y ago
- kasey_junk 4y agoGDP grew last quarter.
- deleted 4y ago[deleted]
- SantalBlush 4y agoShow us a macroeconomics textbook used in the US that says this.
- SantalBlush 4y ago
- dontbenebby 4y ago[dead]