https://hotair.com/jazz-shaw/2...1000-workers-n509519

Meta will lay off more than 11,000 employees, CEO Mark Zuckerberg told workers in a message on Wednesday.

The layoffs will reduce the company’s workforce by about 13%, according to Meta, the parent company of Facebook, Instagram and WhatsApp.

“I want to take accountability for these decisions and for how we got here,” Zuckerberg told employees. “I know this is tough for everyone, and I’m especially sorry to those impacted.”

The people who are departing will be getting what appears to be a quite generous exit package, however. Everyone will receive sixteen weeks of severance pay, plus two additional weeks for each year they’ve been employed by the company. In addition, workers will be compensated for any paid time off they have on the books and their company health coverage will be extended for six months while they seek new employment

Too soon? Facebook and Twitter were absolute heartless dicks when the 11,000 Keystone XL employees and contractors lost their jobs.


I posted that on FB. Betting I get a 30 day suspension.

Lots of dog-whinning and hanky twisting going on here in the Seattle Metro area as our Snowflakes learn that part of adulting is occasionally getting whacked during your working career. Meta, Twitter, Redfin, Amazon, Microsoft are just a few locally who've whacked a few folks in Seattle.

All aspects of tech are having big layoffs this year.

Netflix already had a round, Salesforce I believe has had two rounds already. Stripe, Lyft, Zillow, Redfin, Groupon, have had significant layoffs. Even exercise brand Pelaton had its purge

I mean regardless of how you feel about the company & their ethics or stance. Have a bit of a heart for the 11,000 people that just got canned. It's a terrible time to get Riffed in Tech.

From my Linkedin Recruiter search. There are 17,000 people at FB/Meta in the US that are "Open to Work". Some riffed and some getting ahead of a possible next round.


This is just in the last 40 days: (Sorry don't know how to use the bullets so your eyes don't bleed trying to read.)

Tech giant Meta, Facebook's parent company, is laying off more than 11,000 employees, or 13% of its 87,000-strong workforce.
Vaping company Juul is laying off a third of its workforce, about 400 people, after securing financing to avoid bankruptcy, the Wall Street Journal reports.
Barclay's and Citigroup both cut staff: Barclay's laid off about 200 employees in its banking and trading units, and Citigroup laid off about 50 traders.
LinkedIn members are sharing about layoffs at: C.H. Robinson, a Minnesota-based logistics platform that is cutting up to 1,200 workers; AvantStay, a Los Angeles-based home rental platform that is letting go 144 employees, and Seattle real-estate startup Flyhomes. Both AvantStay and Flyhomes also had a round of layoffs in July.
Real-estate platform Redfin laid off 13% of its workforce – 862 people, according to CNN – and shut down its home-flipping unit. It's the second round of layoffs for the company since June.
Software giant Salesforce laid off hundreds of employees, according to CNBC, and might lay off up to 2,500, Protocol reports.
Google Cloud partner Sada laid off 11% of its workforce, a move announced by CEO Tony Safoian in a LinkedIn post.
Barclays and Citigroup join other investment banks in trimming staff, laying off 200 and "dozens" of employees, respectively.
San Francisco-based Zendesk, a customer-support software platform, has laid off about 350 employees, or 5% of its workforce.
Twitter laid off roughly 50% of its 7,500 employees, the company's head of safety and integrity confirmed. CEO Elon Musk said they were offered three months of pay as severance.
Warner Bros. Pictures, the movie-making arm of Discovery, is cutting an undisclosed amount of employees, according to Bloomberg.
Affirm, a San Francisco-based "buy now pay later" platform, laid off an unspecified number of employees, according to posts by LinkedIn members.
Lyft is cutting its workforce for the second time this year, reports the Wall Street Journal, laying off 13% of its employees, approximately 500 people.
Digital bank Chime is laying off about 160 people, or 12% of its staff, according to TechCrunch.
Digital payments giant Stripe is cutting 14% of its workforce, CEO Patrick Collison wrote in a staff memo. The layoffs affect more than 1,000 employees, according to Bloomberg.
Hootsuite, a Canada-based social media management platform, cut 5% of its staff, its second round of layoffs since August.
Real-estate platform Opendoor is laying off about 550 employees, 18% of its workforce, a move announced by CEO Eric Wu in a blog post.
Database management giant Oracle laid off as many as 200 employees in its Oracle Cloud Infrastructure unit on Nov. 1, a week after "quietly" laying off workers in another cloud division, according to Business Insider.
San Francisco-based software management platform Gem laid off about 100 employees, or one-third of its workforce, according to affected LinkedIn members.

Layoffs that made headlines in October:


Real-estate platform Zillow cut 300 jobs in its second round of layoffs this year.
Mental health startup Cerebral laid off 20% of its staff.
Dutch technology giant Philips cut about 4,000 jobs — 5% of its global workforce — after five consecutive quarters of declining sales.
Delivery startup Gopuff let go of as many as 250 workers in its third round of cuts this year, according to Bloomberg.
Microsoft, LinkedIn's parent company, let go of about 1,000 employees across multiple divisions, Axios reported.
Warner Brothers Discovery laid off more than 80 employees.
General Electric slashed “hundreds of jobs” at its onshore wind-turbine unit in the U.S.
Peloton cut staff for the fourth time in 2022, this latest round affecting about 500 employees, or 12% of its workforce.

Dunno anybody mentioned this yet but Facebook hired 40,000 people during the last two years and most companies were shut down. 11,000 people is nothing in light of that.

We’ve all lost jobs. Some of us have lost much more than that. It’s part of life… Deal with it.

2023 will be much worse… Pretty certain of a significant double-dip recession.

story from Mar 2022

https://www.nytimes.com/2022/0...=slack&smid=sl-share

Meta, the parent company of Facebook, told employees on Friday that it was cutting back or eliminating free services like laundry and dry cleaning and was pushing back the dinner bell for a free meal from 6 p.m. to 6:30 p.m

The new dinner time is an inconvenience because the last of the company’s shuttles that take employees to and from their homes typically leaves the office at 6 p.m. It will also make it more difficult for workers to stock up on hefty to-go boxes of food and bring them to their refrigerators at home.

Tech companies, which often offer lifestyle perks in return for employees spending long hours in the office, are preparing to adjust to a new hybrid work model.

Google, Meta and others have long offered creature comforts like on-site medical attention, sushi buffets, candy stores and beanbag chairs to lure and retain top talent, which remains at a premium in the tech industry.

some employees are debating whether they should be searching for new jobs as they see the value of their stock-based compensation plummet.

The company has also expanded employees’ wellness stipends from roughly $700 to $3,000 this year in an attempt to accommodate for removing some of the other in-office perks.

Just minutes after the changes were announced, employees asked whether the company was planning to compensate them in new ways and if Meta had undertaken an employee survey to evaluate how the changes would impact the staff.

In a tone several employees described as combative, Meta’s chief technology officer, Andrew Bosworth, assertively defended some of the changes and chafed at the perceived sense of entitlement on display in the comments

Another employee who worked on the company’s food service team pushed back even more strenuously, according to two people who saw the post.

“I can honestly say when our peers are cramming three to 10 to-go boxes full of steak to take them home, nobody cares about our culture,” the employee said, pushing back on assertions from others that the changes would be damaging to Meta’s workplace culture. “A decision was made to try and curb some of the abuse while eliminating six million to-go boxes.”

Stopping the laundry and dry cleaning service for employees at Meta’s headquarters in Menlo Park, Calif., ends a famous — if unusual — perk. The laundry service, which was operated by a third party, had free pickup and drop-off around campus and was intended “to make people’s lives easier,”

Annual base compensation starts at $120,000–$130,000 while total compensation packages are at a median of $150,000–$155,000


xxxxxxxxxxxxxxxxxxxxx

Takes "snow flake" to a new level

Volcano

They should all sign up for the waiting list.

Some of those places in Commiefornia are so expensive to live that $100k is barely enough to live on even if you don’t spend $10 on a coffee and other such nonsense every day.

I would think that all those ridiculous perks, ie free meals, laundry and shuttle service are TAXABLE to the employee. Wonder if they are declaring them on their return?

I'm hoping between this and Twitter and hopefully other big tech companies, I start seeing a lot if these non-producing, work-from-home transplants get the hell out of my town and state. Nearly all the new couples I'm seeing here are young, from California, working from home, and have driven the already insane cost of housing here even higher.

I despise these people. Get out!

^^^ One of the things companies are doing is verifying somebody being paid a cost of living adjustment is actually living in the high cost of living location. Requiring employees to actually show up to a physical office eliminates the tech savvy from spoofing their location.

My neighbor was an executive at a Fortune 500 tech company during COVID and they figured out 1/3 of their high cost of living adjustment people were no longer living there.

quote:

Originally posted by ZSMICHAEL:
I would think that all those ridiculous perks, ie free meals, laundry and shuttle service are TAXABLE to the employee. Wonder if they are declaring them on their return?

If it's one of the perks of the job / part of the 'Benefits Package', they shouldn't have to declare anything on their return. There are lots of things that may be included in an employee's 'Total Compensation' that are NOT necessarily 'declared', or included on the W2, such as Employer provided Life Insurance and Employer Contributions to Health Insurance, just to name a couple of examples.

Learn to Code.

Oh, wait a minute...