confirmed widely speculated reports that layoffs will increase as CEO Mark Zuckerberg wrote to employees and the investor community on Tuesday about what he coined the company's"year of efficiency"...
"Our efficiency work has several parallel workstreams to improve organizational efficiency, dramatically increase developer productivity and tooling, optimize distributed work, garbage collect unnecessary processes, and more. I’ve tried to be open about all the work that’s underway, and while I know many of you are energized by this, I also recognize that the idea of upcoming org changes creates uncertainty and stress.
"Overall, we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired" said Zuckerberg.
...and leading crypto tokens, led by Bitcoin, are way up. Bitcoin just overtook Meta in market cap. So much for the War on Crypto, GaryGensler and SenWarren.
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Stock market strategy, outlook: Sell any stock bounces amid SVB falloutSell any rally in the stock market as fallout from Silicon Valley Bank's failure isn't over after government intervention, Morgan Stanley's chief stock strategist says
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Stock market news today: Investors digest Silicon Valley Bank collapseUS stocks fall as investors brace for further impacts of Silicon Valley Bank's collapse Nothing to worry about if you invest in quality companies
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Silicon Valley Bank's failure is good news for stock market: FundstratWhy one firm says the failure of Silicon Valley Bank could be a positive for the stock market Government printed too much money and we all know how expensive printer ink is 😂 one firm
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Stock market news today: Stocks shake off bank contagion fearsUS stocks shake off contagion fears to trade mixed amid hopes SVB crisis spurs Fed policy shift Why has the implosion of Silicon Valley Bank and Signature Bank fueled hope that the Fed will end its rate hikes? Higher interest rates are positive for the entire banking sector. Why should the majority be penalized for a very specific subset of 'tech' oriented banking services? We are still in a huge bubble! Wishful thinking and denial everywhere 😔
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