WHAT HR LESSONS CAN BE LEARNT FROM THE CUTS AT TWITTER AND META?

There have been many significant changes at both Twitter and Meta recently.

On the 6^th November, it was announced that Elon Musk could be looking to cut up to 50 percent of Twitter’s 8,000-strong workforce.

Not long after, Meta announced that 11,000 jobs would be slashed.

On top of this, Twitter also announced the end of its remote working policy, stating that employees at the $44 billion social media platform will be required to work from the office at least 40 hours a week.

HRreview has gathered expert insights into the HR lessons that can be learnt from these massive changes within the tech sector.

CHLOE CHAI, SPOKESPERSON FOR BUSINESS NAME GENERATOR COMMENTS ON THE ANNOUNCEMENT THAT BROKE:

“The opportunity to work remotely has hugely benefited businesses in a variety of sectors, removing geographical boundaries when it comes to securing the best talent. Removing these geo-restrictions helps businesses to attract and hire the right people for their needs, meaning the growth of their business isn’t being held back by the struggle to find the right sort of talent within commuting distance.

“As a result, many businesses have adapted their remote working policies, from fully remote to hybrid working, allowing employees more flexibility when it comes to applying for more exciting or senior positions in other cities, or even other countries.

“On top of this, having the choice to work from home lessens the burden of commuting costs for employees, a welcome benefit for many as we face a global cost of living crisis. Without the need to commute, many employees are reclaiming their free time by spending their mornings and evenings as they wish instead of commuting, which is having an impact on overall well-being.

“Whilst there are benefits to going into the office regularly, many have found that working from home increases their productivity and concentration as they are removed from the distractions of office life. In a world that provides endless ways to communicate online, it’s important for business leaders to consider how they can help different types of workers to thrive, and for many, that is from the comfort of their own home.”

WHAT ABOUT META?

Walt Green Founder of QDEx Labs and inventor comments:

“I really feel for those who have lost their positions at Meta.  Though the wound is new and it may be hard to see right now for many of them, if there can be a silver lining here it is this: the virtual space for advancement and opportunity has just exponentially expanded.  These professionals are some of the best and brightest in technology out there and I truly believe that the landscape of Web3, and subsequently, the Metaverse is about to radically change as a result.  Immense good can, and will, come out of this very bad situation.

“I do not see the cuts happening at Meta as a wider commentary on the Metaverse in any way – to be fair, I see what has happened as a narrow commentary on the business practices of Meta in reaction to circumstances, some not always in their control, and a misreading on technology trends; that said, there were great risks taken in the process for the advancement of technology and I have a certain level of respect for that.  Sometimes those risks bring immense reward and sometimes they don’t.

“As we see this space evolve, the realization that ‘the Metaverse’ will become an experience on the community level, directed by the individual (rather than by a single organization), will serve to lay the foundation of what will be a Metaverse of interoperable Metaspaces.  This is what QDEx Labs is focusing on.”