Re:Meta lays off 11,000 people
by ripper1138 on Wednesday November 09, 2022 @09:06AM
(#33531765)
It was obvious that those days were going to end eventually, it was never going to be sustainable. A few people I knew were deciding between job offers at beginning of this year and I straight up said take the most comp, this shit isn’t gonna last forever…
[ Parent
| on HN ]
on the face, it should be pretty easily sustainable based on the profit per employee these companies make. i guess we just really hate anyone but shareholders actually getting a piece of the pie.
The total revenue of some of these companies is absolutely just mindblowing, normalized by number of employees even more so.
https://www.wolframalpha.com/input?i=AAPL+GOOG+META
| Apple | Google | Meta
market cap | $2.245 trillion | $1.163 trillion | $261.8 billion
revenue | $387.5 billion | $278.1 billion | $117.9 billion
employees | 154000 | 174014 | 71970
revenue / employee | $2.517 million | $1.598 million | $1.639 million
Re:Meta lays off 11,000 people
by steviesands on Wednesday November 09, 2022 @02:31PM
(#33536684)
I checked a few days ago and the revenue per employee at big tech is eerily similar to "Biglaw" and non retail banking (Jones day, >200k entry level, goldman is similar) at 1-2mil per employee. One could argue the market for IB/trading has been saturated by applicants for years but they pay is still well above norms ~>150k entry level. Pretty interesting.
Revenue isn't profit. Now show profit/employee.