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Meta let go of 11,000 employees this week, the first mass layoff in the company's 18-year history. And it's not clear which divisions and roles were most affected — even to thousands of shell-shocked employees who remain at Facebook's parent company.
Many employees told us they were shocked by the scale of layoffs, even if they'd been expecting some headcount reduction. "Going above 10,000 was definitely more than I had in mind," one spared employee told us, "and more than people had in mind."
The spectacular collapse is likely to lead to more pain and result in a permanent scar on the face of the crypto industry. How did SBF and FTX get here? Our reporter Matthew Fox breaks it down.
Goldman Sachs promoted 80 people to partner this week, marking the largest class since David Solomon took over as CEO in 2018.
Outside of Goldman's C-suite, partner is the company's highest title. They get several special privileges, including a salary of about $1 million, access to a special bonus pool, and an opportunity to invest in fee-free investment funds.
"If I stayed working in corporate America, I probably could climb up the ladder. But the higher you climb up the ladder, the more you work. Whereas with e-commerce, the more you work now, the less you'll work in the future."
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