By BARBARA ORTUTAY, AP Technology Writer , CEO Mark Zuckerberg said in a letter to employees Wednesday.
"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."
Some of the pain is company-specific, while some is tied to broader economic and technological forces.
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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.
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Facebook parent Meta among multiple tech companies planning large-scale layoffsFacebook parent company Meta announced the possibility of job layoffs this week. This comes after Twitter and other tech companies have been tightening their belts and cutting hundreds of jobs. Mark wants to be more like Elon: a fuxxking narcissist man-child who is going to destroy the company he just purchased. Old Zuckerberg wants to show us how truly racist he is.......
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