Meta ‘rescinds’ full-time job offers ‘in bulk’ – Times of India

Facebook-parent Meta has reportedly ‘rescinded’ full-time engineering (FTE) offers in London amid recession fears. The development follows last year’s massive layoff which impacted about 11,000 employees of the company’s employees. This is purportedly the first time that Meta has taken back signed FTE offers.
Gergely Orosz of The Pragmatic Engineer, which publishes observations across the software engineering industry, says that he knows about 20 people who have been impacted by this. “New grads with offers due to start in February have been taken back in bulk. This is the first time I’m aware that Meta is taking back signed, FTE offers,” he said.

Job offers were safe
As per Orosz, Meta’s position until now, even a week ago, was that FTE offers are NOT at risk. “In October, recruiters made it clear to candidates worried about their offers that these are safe. Then, layoffs happened in November. Now, this,” he added.
The author also claims that Amazon has done the same – revoking full-time, signed offer letters – since December. Just like Meta, “Amazon has not done this for about a decade, according to old-timers I talked to.”

Meta, Amazon job cuts
Meta and Amazon are among other technology giants that laid off thousands of employees after they over-hired due to increased demand during the Covid-19 pandemic. The technology companies started to feel the heat of the recession in the last quarter of the calendar year 2022.
Meta laid off more than 11,000 employees, which translates to about 13% of the workforce.

“We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1. I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted,” Meta CEO Mark Zuckerberg said.
Meanwhile, Amazon CEO Andy Jassy confirmed last week that the company has fired 18,000 in the last two months. Employees working across Amazon Devices and Books businesses as well as in People, Experience, and Technology (PXT) organisations have been impacted the most. Reports also suggest that Amazon has also cut 1,200 jobs in the UK.