Crazy Truth: Meta, Google employ thousands of employees so they… do nothing, just go to meetings

Tram Ho

Sự thật điên rồ: Meta, Google tuyển dụng hàng nghìn nhân viên để họ… không làm gì cả, chỉ cần đi họp cho có - Ảnh 1.

“Meta and Google employ thousands of people to…do nothing.”

The above comment was made by Keith Rabois, CEO of OpenStore, a company that specializes in financial support for merchants selling with Shopify, and a partner of venture capital firm Founders Fund. Rabois is known as one of the “PayPal Mafia” who served as an executive at the payments company in the early 2000s, according to BI.

Speaking from Miami at an event hosted by company Evercore, Rabois said big tech companies are responsible for hiring too much, but laying off massive numbers of people to cut costs.

This is a frivolous measure of recruitment ,” Mr. Rabois said. “ These people have nothing to do. All just fake jobs. Now that is being exposed. What are these people really doing, they just go to meetings .”

According to Rabois, Google intentionally hires many engineers and tech talent to prevent them from giving their brains to other companies – a strategy that is said to be “quite coherent”. That means these engineers are allowed to come to the company, sit at the table, and do nothing.

Rabois’ views are also lauded by a number of other Silicon Valley experts, such as Marc Andreessen. They all think that large corporations are having too many employees.

According to Rabois, he expects the industry’s focus to shift from a growth model at all costs to a focus on sustainable or profitable upward mobility. Rabois notes that cutting headcount is one of the best ways to maintain and generate free cash flow.

Sự thật điên rồ: Meta, Google tuyển dụng hàng nghìn nhân viên để họ… không làm gì cả, chỉ cần đi họp cho có - Ảnh 2.

The fact that two large technology corporations recruit redundant employees is said to pursue “vanity” measures and standards.

The comments come as soaring interest rates and inflation in recent months have prompted tech companies to lay off large numbers of staff to manage costs. According to layoffs tracking site, by 2022, more than 1,000 companies have laid off more than 160,000 people.

Amazon is considered the “final boss” of this large-scale layoff when the retailer’s decision to cut affects 18,000 jobs – the largest number ever recorded in a wave of job cuts in Silicon Valley. .

Not only Amazon, Meta also announced the reduction of more than 11,000 people, or about 13% of staff. Mark Zuckerberg then admitted he was responsible for the first major layoff in the social media giant’s 18-year history.

Software maker Salesforce also announced hundreds of layoffs, while Apple and Alphabet scaled back or halted hiring plans. Snap is also downsizing, and says it will eliminate 20% of its workforce. At the same time, Twitter officially laid off nearly 3,700 employees via email as a way to cut costs after the $44 billion acquisition.

In addition, many Southeast Asian tech startups have also started laying off employees, amid headwinds in the economy that have left them increasingly losing money.

Sự thật điên rồ: Meta, Google tuyển dụng hàng nghìn nhân viên để họ… không làm gì cả, chỉ cần đi họp cho có - Ảnh 3.

Jia Jih Chai, co-founder and CEO of Singapore-based e-commerce company Rainforest, said: “ Founders are being cautious by managing costs in light of the current situation, most of the time. ensure to maintain operations until the end of 2024. Signs appear that we are entering a recession. As a result, customer demand in 2023 is likely to decline .”

The wave of layoffs marks the first major contraction for the tech sector after a decade of defiant growth. It has helped several companies reach market capitalizations of over $1 trillion, while retaining talent within large corporations.

With his opinion, Rabois full of praise for Elon Musk and the policy of cutting 50% of Twitter’s employees. ” People are following Elon and Twitter and he’s clearly setting an example, even if it’s an extreme act ,” Rabois said.

Of course, not everyone agrees with Musk’s way of firing, especially when a severe shortage of employees makes the social media platform unable to operate smoothly. Most recently, it faced one of the biggest outages in history, after months of cost-cutting and testing out Elon Musk’s service.

Specifically, tweeting, retweeting, tweeting quotes, and direct messaging all unexpectedly stopped working in many accounts. The website and platform apps still work, but interacting with the content on a computer or mobile device is very limited, according to BI. In the words of a former Twitter employee, this is considered a “major outage” since the social networking platform changed hands. Employees of a large tech company also complained that their company’s Twitter account was inactive.


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Source : Genk