Re:Meta lays off 11,000 people
by itsoktocry on Wednesday November 09, 2022 @07:36AM
(#33530670)
>expect to start loosing ad revenue
They are already bleeding ad revenue, badly.
But yeah, agree with you overall. In summary, they were flush with money for a while, invested and hired like crazy, couldn't grow revenue and productivity and are now shedding costs.
We have to remember that these companies weren't affected by layoffs at the start of the pandemic; in fact, the opposite. They boomed.
They are already bleeding ad revenue, badly.
But yeah, agree with you overall. In summary, they were flush with money for a while, invested and hired like crazy, couldn't grow revenue and productivity and are now shedding costs.
We have to remember that these companies weren't affected by layoffs at the start of the pandemic; in fact, the opposite. They boomed.