Comment by imperfect_light
Comment by imperfect_light 4 days ago
You think they all magically figured out they were overstaffed at the same time? It's 100% herd mentality. They're cutting because everyone else is cutting, just like they went on hiring sprees because everyone else was doing the same.
It's easy to measure short-term impact (we cut a bunch of people, we're saving money, we're more profitable) but it's very hard to measure the medium to long term impact of these cuts.
Note I'm not arguing these cuts are the wrong strategy, I'm arguing they have absolutely no clue.
It's unreal how people think tech leaders are geniuses when they keep doing this stuff. Oops we overhired but I take "100% responsibility" however the staff will take 100% of the punishment by being laid off. All while spending $32 billion on legless VR worlds that nobody wants or driving social media giants into the ground. It's Gell-Mann amnesia. Remember how dumb their last decisions were, by their own admission.