Facebook parent Meta cutting 11,000 jobs

  • 📰 TheTorontoSun
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 68%

Technology Technology Headlines News

Technology Technology Latest News,Technology Technology Headlines

Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes.

“Unfortunately, this did not play out the way I expected,” Zuckerberg said in a prepared statement. “Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that.”

Spooked investors have sent company shares tumbling more than 71% since the beginning of the year and the stock now trades at levels last seen in 2015. Last week, Twitter laid off about half of its 7,500 employees, part of a chaotic overhaul as Musk took the helm. He tweeted that there was no choice but to cut the jobs “when the company is losing over $4M/day,” though did not provide details about the losses.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

❤️❤️❤️❤️

Totally fine, get rid of these losers 👍

Time leave the sinking liberal cess pool just like the rest of the Liberal MSM cesspool

But they won’t be cutting the head of the snake off

Welcome to the club Elon Musk says

Walmart is hiring.

What kind of jobs?

rexglacer 🤣🤣🤣🤣

Following footsteps of elonmusk! 🤔

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 23. in TECHNOLOGY

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook parent Meta cuts 11,000 jobs, 13% of workforce - BNN BloombergFacebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. reshiftmedia hired Shambhavi Anand who knowingly broke 🇮🇳abortion law(20wks)TWICE (6 & 7mnths-A Criminal Offense)aborted 7mnths alive girl then fled 2🇨🇦 BrockUniversity GoodmanSchool 2 b 'Future Business Leader' business BloombergCA BW TrudeauMustGo
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Facebook parent company Meta laying off 11,000 employeesFacebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. Stopped taking Russian payouts and their staff are the first to feel the impact. Wonder how many people are going to try and blame elonmusk for this?
Source: CP24 - 🏆 30. / 67 Read more »