alt Hacker NewsI'd guess AI has made the average SWE around twice as productive at this point. This is a sort of efficiency shock, where companies suddenly need to find twice as much productive work to do or start firing employees. FB probably had a bunch of slack to absorb this but ultimately it's just hard to find that much work all at once.
I predict that tech companies will hire back a lot of this lost headcount over time. Although AI will keep getting better, so there's more downward pressure coming. Facebook, Amazon, and Google have had flat headcount since 2022, and this layoff will reduce FB's size back to 2021 levels.
I guess Meta still needs some people to run the core business (ads/social media rageslop) but your point about 2021 staffing levels would suggest they haven't been able to innovate or bring anything new to market in the past 5 years. Llama has certainly been impressive but doesn't really add more money to the pile or more eyeballs to the ad inventory.
It would be nice if someone with another big pile of money could put some of these ex-employees to work so us mid-level schlubs don't have to compete with former FOAMers (new initialism for the hyperscalers of layoffs) for 'regular' tech jobs, but it appears there are no new ideas or markets to capture.