I'm guessing Google and Facebooks profit centers are much more narrow? Eg. Google Ads. Facebook has the Metaverse Black Hole whereas has Googles countless endeavours (eg. Chat)
Yeah but they’re still some of the most profitable companies in the world, and Google at least has many billions in the bank. I feel you’re moving goalposts?
Yes true but they overhired and most growth has stalled. The idea I'm getting are the layoffs are happening in the less profitable parts of the business.
Also, I was told because of the severance packages, these companies aren't going to be saving any money until a few months down.
That said I read a few days ago Apple may start doing cuts in the future. iPhone sales are down 8% and smartphone sales in general are down 18%!
