Meta is laying off 8,000 people today. PayPal cut 4,760 last week. But both companies are growing
I've been in recruiting long enough to have seen a few cycles where companies cut during downturns and hired back when things improved.
These are not struggling companies. Meta's revenue grew 16% last quarter. PayPal processed over a trillion dollars in payments last year. The cuts are not because the business is failing, they are because the business figured out it can do the same work with fewer people and AI handling what junior and mid level roles used to cover.
The category they worked in just stopped making sense to keep at the same headcount.
What makes this harder to navigate than a regular layoff is that the usual advice does not fully apply. Finding a similar role at a similar company is a shorter term solution if the same logic is playing out everywhere, and it is.
The people I have seen come out of situations like this in the best position are the ones who moved quickly, were honest with themselves about which parts of their skill set were most exposed, and made a deliberate decision about where to go next rather than just applying to the same type of role out of familiarity.