novaBBS - alt.politics - Re: Mark Fuckerberg's Meta Is Reportedly Planning on Laying Off 'Many Thousands of Its Workforce'

Re: Mark Fuckerberg's Meta Is Reportedly Planning on Laying Off 'Many Thousands of Its Workforce'

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Subject: Re: Mark Fuckerberg's Meta Is Reportedly Planning on Laying Off 'Many Thousands of Its Workforce'
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by: Shoe - Thu, 26 Jan 2023 11:11 UTC

In article <XnsAD3E6D3A6F275soetoro@95.216.243.224>
governor.swill@gmail.com wrote:
>
> Mark Fuckerberg has no respect for privacy and will sell you out for pennies.
>

Facebook parent company Meta is reportedly planning on laying
off "many thousands of its workforce" in what very well may end
up being the largest round of layoffs to date at a major
technology corporation in a year filled with them.

As reported by The Wall Street Journal, the announcement of
these layoffs is expected to arrive as soon as Wednesday,
November 9, and company officials have already "told employees
to cancel nonessential travel beginning this week."

The planned layoffs would be the first time Meta, which was
previously known as Facebook, has done broad head-count
reductions since it was founded 18 years ago.

At the end of September 2022, Meta reported that it had more
than 87,000 employees across the globe. While the job cuts don't
appear to be as big of a percentage of the total workforce as
Twitter's was this past week, the number of employees looks to
be larger than the up to 3,700 employees Twitter is planning on
laying off.

A spokesperson for Meta declined to comment, and instead
directed WSJ to a previous statement from Mark Zuckerberg that
the company would "focus our investments on a small number of
high priority growth areas."

�So that means some teams will grow meaningfully, but most other
teams will stay flat or shrink over the next year,� Zuckerberg
said on the company�s third-quarter earnings call on Oct. 26.
�In aggregate, we expect to end 2023 as either roughly the same
size, or even a slightly smaller organization than we are today.�

Meta has been reducing its workforce in certain departments in a
much smaller way, and Zuckerberg even told the employees at a
companywide meeting in June 2022 that "realistically, there are
probably a bunch of people at the company who shouldn't be here."

This unfortunate news follows Meta's quarterly earnings that
revealed that its Reality Labs division, which covers its VR,
XR, and metaverse endeavors, saw $3.7 billion in losses from
operations. Reality Labs has lost $9.4 billion so far this year,
and that's even up from the $6.9 billion it lost in the same
period in 2021.

Meta recently announced the Meta Quest Pro VR headset for $1,499
and its focus on building out Horizon Worlds which, according to
the internet, is not at a place that is currently enticing many
people, has been a point of contention. WSJ reports that Horizon
Worlds has well under 200,000 users this year.

<https://www.ign.com/articles/meta-is-reportedly-planning-on-
laying-off-many-thousands-of-its-workforce>

Subject	Author
Re: Mark Fuckerberg's Meta Is Reportedly Planning on Laying Off 'Many Thousands	Shoe

Overdrawn? But I still have checks left!

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