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Mark Zuckerberg: Tech layoffs in 2024 have been a natural response to pandemic-era over hiring (www.itpro.com)

submitted 10 months ago by L4s to c/technology

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Mark Zuckerberg: Tech layoffs in 2024 have been a natural response to pandemic-era over hiring::Meta CEO Mark Zuckerberg believes companies are still readjusting to pandemic-era hiring tactics amid a flurry of layoffs across the industry.

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[–] rambaroo 1 points 10 months ago* (last edited 10 months ago)

Cherry picking zoom makes for a terrible example. They were a uniquely positioned startup. Most of these companies were just jumping on the hiring bandwagon because that's what investors expected them to do, and now they're also laying people off because that's what investors want. It has fuck all to do with any kind of economic reality.

These execs are the ones who should be getting fired but our economy isn't run by rational actors, it's run by investors who only give a fuck about the next quarter's profits.