Google and Meta over-hired thousands of employees who do 'fake work,' says PayPal Mafia's Keith Rabois
Thousands of tech staffers at Meta and Google do"fake work" and were brought on to fulfill the"vanity metric" of hiring, according to the outspoken investor and tech veteran Keith Rabois.
Speaking remotely from Miami at an event hosted by banking firm Evercore, Rabois said that major tech firms were responsible for over-hiring and that the sector's current mass shedding of jobs to rein in costs was overdue. Later on the call, he estimated that Alphabet's Google and Facebook owner Meta had thousands of employees who don't do anything.
Google, he continued, had intentionally over-hired engineers and tech talent to stop them from moving to other companies, a strategy he described as"pretty coherent." But, he added, that meant engineers had been happy to"be entitled, sit at their desks, and do nothing."
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