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Meta scales back

Comments

  • Registered Users Posts: 17,620 ✭✭✭✭rob316


    After only reading a statement when they cut the workforce that they were definitely occupying it. They're in trouble no 2 ways about it



  • Registered Users Posts: 6,157 ✭✭✭Ubbquittious


    Hopefully this is the beginning of the end for Facebook



  • Registered Users Posts: 192 ✭✭IWW2900


    More like this is the beginning of layoffs.

    Companies are going to get hit hard next year, along with stock prices, earnings, consumer sentiment, consumers piggy banks and property prices.



  • Registered Users Posts: 1,036 ✭✭✭herbalplants


    This is what I am afraid too. It may spread like a virus (meaning more layoffs).

    Living the life



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  • Registered Users Posts: 1,273 ✭✭✭The Spider


    You’re not wrong here, it’s a dodgy time for anyone in tech (me included), I fully expect piggybacking I was around for the bust in 2001/2002 and it wasn’t pretty thousands laid off, again me included and it happened fast, although layoffs had been happening in the states it wasn’t as interconnected as it is now, sure the company may have had an office in San Fran but you weren’t on teams meetings with people there, when people moved over you didn’t see them apart from the odd email.

    Expect cutbacks hard and fast a lot of companies have repeated the same mistakes around products that don’t have viability long term, over hired and acquired other companies with technology that won’t integrate with the bigger companies stack.

    there’ll be a rebalance some people will leave forever, although where I don’t know, the last bust I remember a lot of tech guys getting jobs as labourers on building sites just to get away from the whole scene, some came back some didn’t, don’t think labouring jobs exist now.

    however it could be good for smaller tech companies, but anyone on a meta, google or Twitter salary is going to find it hard to get that again, unless they have serious connections.

    Bigger issue for me is the way Twitter handled the ‘redundancies’ three months severance may be considered good in the states but here it’s chicken feed, you give that to someone who didn’t finish probation, it’s also not equitable someone who’s in the company a year gets the same as someone 10 years. I know a lot of workers are taking cases against Musk, my instinct is the WRC or courts are going to have to hammer Musk and Twitter and force the maximum compensation, if they don’t you’re going to have every Micky mouse startup and sme trying to pull the same shite based on precedent.



  • Registered Users Posts: 993 ✭✭✭Jonnyc135


    Most decent company redundancies here would have something like 6-8 weeks pay for every years of service. I think you are quite right, 2023 maybe a dreadful year in terms of the global economy as a whole, not just in Ireland. As you say Ireland economy is more interconnected to the global economy then ever before due to out presence of multinationals here, our SME sector is already stalling, construction stalling, consumer spending stalling once the global economy starts to stall so will our multinationals and then we may be headed on that dark path, yet again.



  • Registered Users Posts: 1,273 ✭✭✭The Spider


    Yup I work remote but did meet up with colleagues a few weeks ago, and unusually for people working in tech, there was a lot of talk around regret at not joining unions, first I’ve heard of people seriously discussing it in over 20 years, and also a lot of people saying that ‘if’ the company went belly up or they tried to use the current situation to shed some staff on the cheap, everyone pretty much said they’d go straight to the WRC, and absolutely no one was prepared to sign a release of claims without substantial compensation and non competes removed.

    Sign of where we are in the past people would be worried about reputation and new jobs etc, not this time as one guy said to me, can’t be dealing with fantasy about a job you don’t have you can only deal with what you know you can get.



  • Registered Users Posts: 1,273 ✭✭✭The Spider




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  • Registered Users Posts: 2,720 ✭✭✭accensi0n


    I'm looking forward to the new pay related JSB being implemented, being laid off and chilling out for a year.



  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 66,471 Mod ✭✭✭✭L1011


    A link and a single word is not justification for a thread. It isn't even enough for a post!

    There are multiple other threads this could have gone in, but you need to provide more commentary than was given here.



This discussion has been closed.
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