"Unfortunately, this did not play out the way I expected," he said."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."
Zuckerberg said Meta also would put in place other cost-cutting measures, including shrinking the company's real estate footprint and maintaining a hiring freeze through the first quarter of 2023. In a third-quarter earnings call last month, Zuckerberg had said he expected Meta to enter 2023 with roughly the same headcount.
“In 2023, we're going to focus our investments on a small number of high priority growth areas,” Zuckerberg said. “In aggregate, we expect to end 2023 as either roughly the same size, or even a slightly smaller organization than we are today.”
Why don’t they want us to know this?
Didn't we just do this with Twitter and ppl cared?
Laying off such a big number will create another sense of insecurity and financial distress in the whole world
Billionaires don't have enough money for their workers, what a shame 😔
Good opportunity to short the Meta stock but sad for the folks losing their jobs.
Tehe
profgalloway you were slightly over this amount in yesterday's ep but the dog is (almost) never wrong!
Yay! Check out this Facebook Censorship. I need good lawyer ASAP!
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