Mark Zuckerberg confirms broad layoffs to begin at Meta

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by jstx1 on Wednesday November 09, 2022 @03:13AM (#33528679)

Layoffs at the top companies put downward pressure on the entire job market - fewer open positions, less mobility for everyone, more competition... if you're working at an average non-tech company and want to move up in salary, now you're competing with a bunch of people who have big tech on their resume and who were good enough to pass the big tech interview loop in the past.

[ Parent | on HN ]

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by whiplash451 on Wednesday November 09, 2022 @03:31AM (#33528786)

I would disagree with that. Your company probably has a hiring freeze at the moment. You are not competing with external people. If you are a crucial person to your company, you are actually in a decent position to get an increase. If you are not crucial, you are on the list for the second round.

[ Parent | on HN ]

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by jstx1 on Wednesday November 09, 2022 @03:35AM (#33528808)

No way, increasing compensation for current employees was difficult even when the market was hot. I'm not buying that the companies with hiring freezes are giving out raises (certainly not more raises than before).

[ Parent | on HN ]

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by yuhc on Wednesday November 09, 2022 @03:35AM (#33528811)

Both make sense, while new grads always hurt.

[ Parent | on HN ]

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by dustedcodes on Wednesday November 09, 2022 @05:15AM (#33529473)

> "and who were good enough to pass the big tech interview loop in the past"

I would rephrase that to "who were willing to go through the big tech interview loop in the past". The big different between the people who go through this and don't is not ability but desire from my experience.

[ Parent | on HN ]

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by Herbstluft on Wednesday November 09, 2022 @06:10AM (#33529829)

I agree that the way those tech interviews are designed makes them more of a marathon that tests determination.

Doesn't change that the prestige of having it on your resume will cause many other companies to blindly hire you.

[ Parent | on HN ]

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by raducu on Wednesday November 09, 2022 @06:21AM (#33529928)

> The big different between the people who go through this and don't is not ability but desire from my experience.

I know 4 developers that work for FAANG companies, I don't know why, but all 4 of them are women.

One is a brilliant programmer, team leader and generally a wonderful person to hang around with. The other 3.... well... I have no idea how on Earth they made it, they're clueless when it comes to programming; of which 2 have serious personality issues also.

[ Parent | on HN ]

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by mads on Wednesday November 09, 2022 @07:13AM (#33530445)

Funny you should say this. I often had this feeling that those interviews favor a certain kind of personality somehow.

[ Parent | on HN ]

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by ramblerman on Wednesday November 09, 2022 @05:19AM (#33529488)

It depends.

- It's unclear if the layoffs hit software engineering, or if it's mostly business roles.

- Engineers from FANG (or whatever the acronym now is) aren't competing for all the roles out there. They generally aren't looking to join banks/insurance/telco or what they would consider "boring" roles.

If you are looking to join a cool well paying startup in SF, then yes, I imagine the competition is extra tough right now.

[ Parent | on HN ]

Re:Mark Zuckerberg confirms broad layoffs to begin at Meta by jstx1 on Wednesday November 09, 2022 @05:39AM (#33529623)

Right, my point is that they don't need to be directly competing for those roles to impact the market.

Imagine a tiered job market with 3 levels. Companies at tier 1 stop hiring and some of them have layoffs.

- now everyone at tier 1 is competing for a limited number of positions, some people are moving down to tier 2 out of necessity, and it's extremely difficult for people at tier 2 to move up to 1

- people at tier 2 can't move up so they stay at tier 2 and are much more attractive candidates for those positions than the people from tier 3 who are trying to move up to tier 2.

- it's almost impossible for juniors to enter (this was already hard) at tier 3 or at any other

It's a soft squeeze from the top. And while this is happening the companies at tier 2/3 are having freezes and layoffs of their own (maybe at a lower rate).

PS. The tier model is to make the argument clear, I know that companies don't separate that cleanly into groups and we could argue about which companies fall into which group but you can roughly think of the tiers as a proxy for compensation.

[ Parent | on HN ]