RETHINKING - FEBRUARY 18, 2023 - CUT OF HEADS IN FACEBOOK

Barron’s in one of its last issues of 2022 predicted that the New Year would not  be happy for everybody in the technology sector.

After that, The Wall Street Journal in a succession of stories of 2023 informed the readers about the cut of jobs in Microsoft, Google and also Facebook.

Today – February 18, 2023 – in a very exclusive story, the WSJ posted a research of two of its journalists that starts “Facebook Parent Meta Gives Thousands of Workers Subpar Reviews. The performance ratings may signal more job cuts are on the way.”

"Facebook parent Meta Platforms Inc. META 0.26%increase; green up pointing triangle gave thousands of employees subpar ratings in a recently concluded round of performance reviews, a signal that more job cuts may be on the way, people familiar with the matter said. // The company also cut a bonus metric, the people said, one of several steps senior executives are taking after Chief Executive Mark Zuckerberg declared 2023 would be a “year of efficiency.” "

From my experience in the technology industry, I can add that periodically, the tech companies hire a lot of employees, but they don’t maintain these workers for a long time. They don’t keep their soldiers in combat positions when they don’t need them for an immediate battle. They are not government institutions that guarantee a salary for everybody until the retirement day.

About this subject, this was my comment posted today in the blogger section of WSJ Online:

“Big tech corporations don't want to feed huge crowds of people who only look for the tech panacea.”

And the frequent cutting of heads in the big tech corporations is not new.

They are the risk that the newcomers of the technology industry have to assume from the first day of work.

SOURCES: The Wall Street Journal, Barron’s