Comment by malfist
3 hours ago
How many hall passes do CEOs get for pandemic over hiring? Its been four years, and four years of layoffs and hiring to go back to layoffs. Pandemic over hiring might explain the first layoff or two a year or so later, but not the tenth or so layoff nearly half a decade later.
Seems more and more like CEOs and MBAs as a whole are letting AI make all their decisions
It's the principal/agent problem: The overhiring is incredibly difficult to unwind because it led to the creation of empires. Everyone who is not a founder has more incentive to keep the empire because it props up their comp.
I see this firsthand. Execs who are openly hostile to and distrusting of their own middle management.
These were supposed to be farsighted geniuses who took credit for their stock performance. But they made the most obvious blunder: opening a Pandora’s box that they can’t close.
How?
In 2022, Meta laid off 11,000 (13%)
In 2023, Meta did two layoffs, one of 10,000 (another 13.6%), one of 600
In 2024, Meta did a layoff (layoffs.fyi doesn't list the number)
In 2025, Meta did three layoffs, one of 3,600 (5%), 100 and 600 people
In 2026, Meta has done two layoffs, one of 200, and one of 8,000 (10%).
If you can't correct overhiring in 4 years as a CEO, you've failed. If you repeatedly have to do >10% layoffs every year for 4 years you've failed (if it's to correct for a one time hiring spree).
Meta's employment didn't skyrocket during the pandemic making this argument even more bullshit. Between 2012 and 2018 Meta averaged an employee count growth of 40% YoY. In 2020, they grew by 31%, 2021 22% and 20% in 2022. Meta slowed their growth during the pandemic.
This "pandemic overhiring" is bullshit.