‘TOO MANY EMPLOYEES, BUT FEW WORK’: PICHAI, ZUCKERBERG SOUND THE ALARM
With global recession fears looming, some of the biggest names in the technology world have some ominous words to spare: Big Tech has hired more people, but only some of them are doing the work.
Meta (earlier Facebook) Founder Mark Zuckerberg fired the first salvo. It was the weekly Q&A on June 30, and he had said that the economy was headed for the “worst downturns that we’ve seen in recent history”.
Then he continued.
“Realistically, there are probably a bunch of people at the company who shouldn’t be here,” Zuckerberg said on the call, according to a Reuters report. “And part of my hope by raising expectations and having more aggressive goals, and just kind of turning up the heat a little bit, is that I think some of you might just say that this place isn’t for you. And that self-selection is okay with me.”
In addition to reducing hiring, he said, the firm was leaving certain positions unfilled.
Google and Alphabet chief Sundar Pichai echoed the sentiment when he told employees that productivity was not high enough, considering the number of people on the company’s rolls, CNBC reported.