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Mark Zuckerberg explains why so many tech companies are doing layoffs right now (www.businessinsider.com)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Mark Zuckerberg explains why so many tech companies are doing layoffs right now::Meta's CEO said tech execs realized doing tough layoffs didn't end their companies — and there can be benefits to being leaner.

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[–] GeneralVincent@lemmy.world 2 points 9 months ago

And when they have a good year and do a bunch of hiring, they say to shareholders "look at us growing! We hired 1000 extra people, so our business is booming!"

And when it slows down "we made difficult decisions but are now more efficient than ever! We benefited from the previous growth and now we can run lean again" and apparently shareholders eat that shit up.

I know the saying about not attributing to malice what can be attributed to stupidity... but I think we can say pretty confidently that it's not incompetence, it's deliberate and disgusting