3 ms·
Despite the claimed intended audience, that letter isn't written for employees. It is written for shareholders. And judging by the stock price, it had the inten
by Ozzie_osman 4y ago
Despite the claimed intended audience, that letter isn't written for employees. It is written for shareholders. And judging by the stock price, it had the intended effect.
- onlyrealcuzzo 4y agoGOOG is up 3%, MSFT, AMZN, APPL are up 2%. Snap is up 4%. FB is "only" up 4.5%. If you need to fire 13% of staff to get a 1.5-2.5% bump in price - that doesn't look great to me. Almost seems like the market is signaling that they don't see any growth potential for FB outside of canceling the Metaverse.
- lordnacho 4y agoDon't you have to subtract the fact that the entire market is up today?
- msm_ 4y agoThey did, they estabilished that the tech average is 3% today, and subtracted this from meta's 4.5%
- HDThoreaun 4y agoup 6.5% now
- blsapologist42 4y agoGiven all the leaks it seems reasonable that these layoffs have mostly been priced in already.
- spacemadness 4y agoMy one hope in all this is that some tech workers who drank a lot of corporate kool-aid over the years, i.e. the “we’re a family” managerial nonsense, will finally see the reality of the industry we work in and the real aim of quarterly capitalism which is profit and growth at all costs every single quarter. Your well being, since you likely attach it to work, is not part of that formula. You are expendable and will be sacrificed on the altar of profit at a moments notice.