billionaire Elon MuskZuckerberg as well said that he had made the decision to hire aggressively, anticipating rapid growth even after the pandemic ended.
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. Competition from TikTok is also a growing threat as younger people flock to the video-sharing app over Instagram, which Meta also owns.
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:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook parent company Meta laying off 11,000 employees, 13% of workforce, Zuckerberg announcesFacebook 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. MattHaneySF get zuckerbergs people the ones you chased out Where is lisabloom with the lawsuit? NEWS_MAKER Any protests or investigations? Didn’t think so.
Source: abc7newsbayarea - 🏆 529. / 51 Read more »
Meta layoffs 2022: Facebook parent company laying off 11,000 employees, 13% of workforceFacebook 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.
Source: ABC7Chicago - 🏆 284. / 63 Read more »
Facebook parent company Meta laying off 11,000 people, 13% of workforceFacebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes
Source: TucsonStar - 🏆 339. / 59 Read more »
Facebook parent company Meta laying off 11,000 people, about 13% of workforceFacebook 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.
Source: WashTimes - 🏆 235. / 63 Read more »
Facebook parent company Meta laying off 11,000 people, 13% of workforceFacebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes
Source: dothaneagle - 🏆 337. / 59 Read more »