When I originally made the header image last year, I had no idea I’d be using it every week. Another week has passed, which means more bad news for Meta workers.
A week ago, it was alleged that Meta’s top brass was prepping to make more staffing cuts. CEO Mark Zuckerberg planned a ‘Year of Efficiency.’ Today, Zuckerberg made the layoffs official, confirmed by The Hollywood Reporter.
As we expected, the devastating announcement was made to staff via a memo. Unfortunately, THR did not post the memo in full. However, the following quote from the document is attributed to Zuckerberg:
“As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs — and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long term vision. At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years. Higher interest rates lead to the economy running leaner, more geopolitical instability leads to more volatility, and increased regulation leads to slower growth and increased costs of innovation. Given this outlook, we’ll need to operate more efficiently than our previous headcount reduction to ensure success.”
The announcement may have led to a 6% increase in shares of Meta. But will it have a long-lasting positive effect?
These recent staff-reducing plans follow a trend Meta started in 2022 when 11,000 employees were terminated, and Zuckerberg got an additional $4M added to his $10,000,000 personal security budget.
Meta’s troubles don’t end with shedding workers. The tech giant may soon have to pay news corporations in Canada for links users share on its social media platforms. The company formerly known as Facebook also had to settle a $74M privacy lawsuit in 2022.
I’m confused regarding what Meta wants to be. I’ve had an Oculus 2 since it launched. I rarely feel the need to use it. VR still feels more like a novelty than a real gaming platform. Facebook is … quite dead. Companies are probably getting more interaction and views on Twitter. Instagram has become a giant OnlyFans marketing machine with oddly lax nudity rules.
What are your thoughts on Meta’s latest layoffs and plans to run a tighter ship? Let us know below.
[Source: The Hollywood Reporter]ClownfishTV.com strives to be an apolitical, balanced and based pop culture news outlet. However, our contributors are entitled to their individual opinions. Author opinions expressed in this article do not necessarily reflect the views of our video hosts, other site contributors, site editors, affiliates, sponsors or advertisers. This website contains affiliate links to products. We may receive a commission for purchases made through these links. We disclaim products or services we have received for review purposes, as well as sponsored posts.
