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Big side effect of these layoffs is that new talent is reluctant to join, even for more pay.

Stability is going to come at a large non-monetary premium these days

H1b don’t care, they will take the jobs
I doubt it. There’s a very hungry work force ready to take any job available.
Lot of disagreement on this, but I agree. Sure there are lots of hungry juniors wanting to join but the experienced talent Meta really needs will avoid this company. I work here and the good people leave to places with better cultures.
The playbook for minimal morale: round-after-round of haphazard layoffs, reorgs, and rebrands demonstrating leadership is clueless and doesn't care about workers whereas the traditional, sensible layoff strategy was "cut once deep."

Top talent will never want to work for Meta regardless of TC.

Meta behaves like a power grid. It can bring online or take offline a whole bunch of power plants and no one will notice anything.