Why Do Companies Hire Too Many People? And What About Meta’s Earnings?
This week Meta (Facebook) announced revenue growth of 25% year over year and a headcount cut of 22%, with net income soaring to $14 billion, almost a 35% net profit. That spectacular outcome is a result of focus and a clear and rigorous process of reduci
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Show Notes
This week Meta (Facebook) announced revenue growth of 25% year over year and a headcount cut of 22%, with net income soaring to $14 billion, almost a 35% net profit. That spectacular outcome is a result of focus and a clear and rigorous process of reducing headcount.
But the big story is not this company, it’s the big idea that companies often over-hire. And this over-hiring results in bureaucracy, slowdown, and loss of innovation. Just as Meta has learned this, I believe every company has to learn this lesson. In today’s talent-constrained global economy, it’s time to run our companies with a focus on “fewer people” and “more clarity.” This podcast explains.
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