According to C3.ai CEO Thomas Siebel, companies such as Meta and Google had over-hired to the point where employees were doing nothing while working from home because they had no work to do.
In an interview with Insider, Siebel stated that the market needs to “clear itself out” and that it was “weird” for these companies to go on a hiring binge during the pandemic. According to Siebel, many of these employees were “doing nothing working from home.” Both Meta and Google went on hiring binges at the start of the pandemic, but have since laid off tens of thousands of employees due to recession fears.
Siebel claims that his company is more cautious when it comes to hiring new employees. Candidates are subjected to a highly competitive interview process, and potential hires are filtered based on whether they fit the company’s hard-driving culture. He made bold claims, claiming that only 300 of 4,000 interview candidates were hired in the previous year.
Siebel stated that his software company, which employs approximately 1,000 people, is more cautious when it comes to hiring new employees. He claimed that C3.ai subjects candidates to a highly competitive interview process, filtering potential hires based on whether they fit the company’s hard-driving culture and that the company hired only 300 employees out of 4,000 interview candidates over the last year.
The sources for this piece include an article in BusinessInsider.