"Krisp" co-founder Artavazd Minasyan wrote on his "Facebook" page.
"How can the large-scale layoffs of Meta (Facebook) employees positively affect startups?"
The company's revenues in 2022 made 120 billion dollars, a profit - of 42 billion. Despite the vast numbers, the company is struggling. For the first time in 18 years, they went through mass layoffs.
There are 2 reasons.
1. World economic situation. Many are predicting a long-term recession for the next few years.
2. An attempt to follow the path of profitability. The company's growth has slowed down. The company did not register growth for the first time this quarter. Both reasons are sufficient for the company to take such a step.
The consequences are positive...
The big 5: Google, Amazon, Apple, Microsoft, and Meta, in the last 10 years, are constantly growing; they are taking the world's best talents and techno-brains to them. As a result of layoffs in one of the majors, skills will be reluctant to go to the giants. The phenomenon is a beautiful opportunity for startups to attract new talents and create competitive products.
At the end of September, there were more than 87 thousand people on the staff of Meta. In 2020-2021, the company increased its staff by more than 27 thousand, and in the first 9 months of this year, by another 15,3 thousand.
By the way, today, Salesforce confirmed the news about dismissing hundreds of employees."
