Binance lays off over 1k Employees

Re:Binance lays off over 1k Employees by WinstonSmith84 on Friday July 14, 2023 @02:26PM (#36727971)

There are dozens of protocols they need to integrate with and keep up to date. Plus, those protocols change constantly. And there are also new ones, and those which disappear... And then, there is their whole infrastructure.

The support must be massive too. And the legal aspect must also keep people busy from having to enforce various regulations to having to answer to various governments...

So let's take a comparison: - facebook: 50k employee. What has changed on Facebook for the last few years? So yes, there is probably some support, the content enforcement of course must keep a lot of people busy, but then?..

- snapchat: 5k employee. Well, for a social media platform which is not changing at all and actually losing in revenue, that's a big number

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Re:Binance lays off over 1k Employees by atraac on Friday July 14, 2023 @02:49PM (#36728246)

> facebook: 50k employee. What has changed on Facebook for the last few years?

What do you mean? Facebook changes literally every day. Every single day a piece of UI randomly stops working.

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Re:Binance lays off over 1k Employees by mvdtnz on Friday July 14, 2023 @04:24PM (#36729433)

You're assuming (in both the Binance and Facebook cases) that the majority of headcount comes from product development teams. Not true. The majority of that 8k/50k figure comes from areas like sales, compliance, finance, HR and management.

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