The statement that thousands of employees at Meta and Google are not actually working and their hiring is not related to specific work projects was made by Keith Rabois, a well-known IT investor.

This was reported by Business Insider.

During the event of the banking firm Evercore, Rabois said that he had calculated the number of fictitious employees in the tech giants. He stressed that the unjustified increase in staff has been going on “for a long time” and is an indicator of the company’s “vanity”.

According to him, “in fact, these people only do that they go to meetings.” In this situation, Rabois blames the tech giants themselves, and says that mass cuts are justified, but too late.

Keith Rabois is an executive at the investment company OpenStore and a general partner at venture capital firm Founders Fund.

Recall that Meta is on the verge of a new wave of staff reductions, which should happen in the coming months.