My one hope in all this is that some tech workers who drank a lot of corporate kool-aid over the years, i.e. the “we’re a family” managerial nonsense, will finally see the reality of the industry we work in and the real aim of quarterly capitalism which is profit and growth at all costs every single quarter. Your well being, since you likely attach it to work, is not part of that formula. You are expendable and will be sacrificed on the altar of profit at a moments notice.

GOOG is up 3%, MSFT, AMZN, APPL are up 2%. Snap is up 4%. FB is "only" up 4.5%.

If you need to fire 13% of staff to get a 1.5-2.5% bump in price - that doesn't look great to me.

Almost seems like the market is signaling that they don't see any growth potential for FB outside of canceling the Metaverse.

Don't you have to subtract the fact that the entire market is up today?

They did, they estabilished that the tech average is 3% today, and subtracted this from meta's 4.5%

up 6.5% now

Given all the leaks it seems reasonable that these layoffs have mostly been priced in already.