Dana Sumpter Reacts to Another Round of Meta Layoffs for Insider
Meta found itself in the news once again earlier in March when the company announced another 10,000 job cuts, Met’s second round of layoffs in four months. Meta is the latest big technology company to announce layoffs, as the tech industry continues to respond to rising interest rates. In an interview with Insider’s Rebecca Knight, Dana Sumpter, Graziadio associate professor of organization theory and management, explained how job cuts are an easy fix for a company’s problem that has lasting implications.
"Companies are racing to the bottom by trying to impress their shareholders and boards and show how cost-conscious they are," Sumpter said in the interview. "Even when investors react in a positive way to a layoff announcement — 'Good for Meta, they're being conscientious' — if the company needs to do it multiple times, there may be the question of, 'Do they have their act together?'"
Read the full article at Insider.