Why News Out of Silicon Valley is Bad for North Carolinians | Eastern North Carolina Now

    Publisher's Note: This post appears here courtesy of the John Locke Foundation. The author of this post is Brittany Raymer.

    The news recently coming out of Silicon Valley isn't good for the country, nor North Carolinians, as it's clear that even some of the nation's most powerful and influential companies are already bracing for recession and a tightening job market.

    This first came to light at an all-staff digital meeting with Meta (Facebook, Instagram) CEO Mark Zuckerberg, who announced that the company is essentially looking to weed out poor performers.

    "Part of my hope by raising expectations and having more aggressive goals, and just kind of turning up the heat a little bit, is that I think some of you might decide that this isn't the place for you, and that self-selection is OK with me," Zuckerberg said after a staff member asked about "Meta Days," which allowed staff to take extra time off during the pandemic.

    An internal memo was even more direct, with vice president of remote presence Maher Saba telling managers: "If a direct report is coasting or a low performer, they are not who we need; they are failing this company. As a manager, you cannot allow someone to be net neural or negative for Meta."

    Ironically, it will be difficult to keep morale high when the company is already beginning to cut some employee perks, like free laundry and dry cleaning. If more are on the way, it'll be difficult to keep out the naysayers who are frustrated that their once cushy job is becoming more mundane.

    This attempt to seemingly clean house is not only about bracing for the anticipated economic downturn, and possibly even layoffs, but reacting to a slump that has already begun. This year, Meta posted its slowest growth rate since it went public.

    Meta is not alone, as Alphabet, the parent company of Google and YouTube, has instituted a two-week hiring freeze to assess its "headcount" as it faces a decline in advertising revenue as other companies pull back their marketing efforts on the various platforms.

    "We'll use this time to review our headcount needs and align on a new set of prioritized Staffing Requests for the next three months," said senior vice president Prabhakar Raghavan.

    These are not the only Silicon Valley heavy hitters slowing down when it comes to hiring and profits, Apple, Lyft, Microsoft, Dropbox, Adobe and more. Even Amazon is whittling down its once impressive team, though it still employs an incredible 1.52 million full- and part-time workers.

    Though the Biden administration has often cited the strength of the job market as a reason why the country is not in a recession, but that won't be the case for much longer. As the big tech companies all look to tighten their purse strings and freeze or slow hiring, anticipate that to trickle down to businesses across the country, including here in North Carolina where Apple is establishing a new office.

    WRAL is reporting that there are a growing number of indictors that the labor market is slowing in the Research Triangle area. For the first time this year, the number of the jobs offered at the beginning of this month, August, are lower than at the beginning of the year. There are also an increasing number of layoffs occurring as well.

    This will likely continue as the recession takes full effect.
Go Back


Latest State and Federal

“Squad” member Rep. Ayanna Pressley (D-MA) accused Walgreens of racism after the company closed a pharmacy in her district.
Multiple people were shot and at least one was killed when gunfire erupted at a parade celebrating the Kansas City Chiefs’ Super Bowl win this week.
Guilford County is considering an additional 1% Prepared Food and Beverage Tax, with the support of Greensboro Mayor Nancy Vaughan.
Raleigh, N.C. — The Judicial Voter Guide: 2024 Primary Election is now available online at the State Board of Elections’ website.
Charles Fain Lehman, fellow at the Manhattan Institute and contributing editor to City Journal, discusses his report, “Who Pays For Reparations? The Immigration Challenge in the Reparations Debate.”
Fulton County District Attorney Fani Willis was in a personal relationship with special prosecutor Nathan Wade before she hired him in late 2021 for the 2020 election interference case against former President Donald Trump, a witness testified on Thursday.
The U.S. Supreme Court ruled 5-4 on Monday that the Biden administration may cut through or tear down razor wire that the state of Texas has placed along the U.S.-Mexico border as it seeks to stop foreign nationals from illegally crossing into the U.S.


A prominent black radio show personality reportedly feels “burned” over his past support of Vice President Kamala Harris.
House impeachment articles filed against Homeland Security Secretary Alejandro Mayorkas over his handling of the border crisis may be in jeopardy as at least one Republican says that he will oppose them, and others have yet to come to a decision.
President Joe Biden’s son, Hunter Biden, allegedly took photographs with his phone of “apparent” cocaine, crack cocaine, and other drug paraphernalia, according to court documents filed by Biden’s Department of Justice.
Embattled Harvard President Claudine Gay resigned on Tuesday, and many on the Left were quick to claim that her abrupt exit was clearly the result of racism.
King Charles III, 75, has been diagnosed with cancer, according to a statement from Buckingham Palace.
An attorney and business owner from Salisbury, Rowan County, has joined the growing list of contenders for the GOP nomination for governor in North Carolina in 2024.
Florida Republican Governor Ron DeSantis announced on Thursday that he is sending members of the Florida National Guard (FLNG) and Florida State Guard (FSG) to Texas to help Governor Greg Abbott


Back to Top