Holy cow. Meta’s 11,000 layoffs today is insane. If we weren’t knee deep into a recession, we are now.

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Deloitte would argue everything is fine and this is a booming economy. Rx heating up says otherwise

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Meta has been losing money for last 2 years. There biggest bet hasn’t paid off. It was bound to happen even if macroeconomic conditions were favorable

We are just starting.

likesmartfunny

Absolute comedy gold. Thanks C1!

I’m sorry, a few layoffs in one sector (tech) does not make a recession. Recession is a macroeconomic event that needs downturns across multiple industries

likesmart

Apparently a recession requires a republican to be in the Oval Office, otherwise a recession is just transitory

likefunny

No this is a single company that invested its future in a product that no one wanted

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No. Have not seen what banks are doing? Yes, forward looking into recession.

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As a frame of reference, Meta’s headcount is still higher than it was at the end of 2020…

All of big tech over-hired, and has had smart people sitting on low-value projects. It sucks, but this is the kind of efficiency drive you’d see anywhere else in the economy.

likesmart

This

Get some perspective. Go back and look at the number of layoffs in the 1980’s.

Meta only laid off 13%. They probably didn’t go deep enough.

likefunny

What are you a Senior Director of? Honest question.

funny

The leader comes and says poor decision. Had it been other the guy would be Removed. Fucking guy who can play with other’s $ without any consequences for him

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i’m going to apply for meta

What does maang stand for or atleast the m?

Nope, consumer still looking strong but we may be headed there if this continues…

Recession is a state of mind

Meta has made many bad moves. Nothing to do with a recession.

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