Meta is closing its Manhattan office, and giving notice to 12,000 employees that their services are no longer required - as the stock has dropped 55% in the last 18 months. San Francisco-based Docusign will lay off nearly 10% of its 7400 employees, Twilio will fire 11% of its workforce, Intel is cutting thousands from its ranks, and Twitter’s new Chief Twit is cleaning house: Elon Musk is on his way to a reported 75% reduction in force. Meanwhile, Apple has laid off about 100 recruiters, a sign of a hiring slowdown. “Silicon Valley is seeing layoffs across the board for the first time since 2008,” Dan Ives tells Insider. Ives, a tech analyst at Wedbush, shares troubling words: “Winter is coming to the tech world.” How can workers prepare for this new season?
"It is a poorly kept secret in Silicon Valley that companies ranging from Google to Meta to Twitter to Uber could achieve similar levels of revenue with far fewer people," Brad Gerstner, CEO of Altimeter Capital, wrote in a recent open letter to Meta. In early August, Google SEO Sundar Pichai was already reading the tea leaves, raising concerns about the company’s productivity on CNBC. Recently Google’s parent, Alphabet, has announced a hiring slowdown and a reduction in travel - a significant departure from last April, when employees enjoyed a private concert by Lizzo.
Technology has long been a hotbed of special employee benefits. Companies have competed with catering, massages, and the like, designed to attract the...
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