A year ago Facebook was renamed Meta, announcing a name that would serve Include all your products (Facebook, Instagram and WhatsApp) under one umbrella. Mark Zuckerberg says his company is focused on social technology, with one Ambitious project known as “Metaverse”. As one of his star goals.
Now it seems that this project is not going as it should. Meta has laid off more than 11,000 employeesand Mark Zuckerberg published a long letter Where he addressed all the sacked people.
Zak talked about layoffs
Cutbacks to workers reached 13% of the workforce. Zuck’s letter began thus:
Today I’m sharing some of the tough changes we’ve made to meta history. I have decided to reduce the size of our team by approximately 13% and let go of more than 11,000 of our most talented employees. We are also taking several additional steps to become a leaner, more efficient company by reducing discretionary spending and extending the hiring freeze through the first quarter. [de 2023].
This comes in a trim Critical moment for the metaThat signaled modest profits that spooked investors and sent its shares down 20%.
The owner of Meta, however, Don’t pass the buck and take responsibility Why things are like that:
I want to take responsibility for this decision and how we got here. I know this is difficult for everyone, and I want to apologize to those who have been affected.
He says Meta is going Reduce within each company That falls under their umbrella, but that hiring will be disproportionately affected because they don’t plan to bring on many new workers in 2023. The letter continues:
This is a sad moment, and no more. To those who have left us, I want to thank you for what you put here.
Affected employees will receive 16 weeks salary As compensation, according to Zuck himself, two extra weeks for each year of service. The company will cover your health insurance for six months.
Meta is investing heavily in Metaverse. So much so It cost him about 9.4 billion dollars to the company at a loss. And Meta is already announcing that losses will increase over the next few years. Perhaps these cuts aren’t the only ones we’ll see from the meta soon…