Meta CEO Mark Zuckerberg announced that the social media company would dismiss 10,000 employees and cease efforts to fill 5,000 open roles amid economic turmoil and lackluster performance.
Meta reported $116.6 billion in revenues in its final earnings report of 2022, marking a 1% decline from the $117.9 billion earned in 2021, even as a somewhat higher effective tax rate and a 23% increase in costs from operations contributed to a 41% decline in net income. Zuckerberg said in a Tuesday announcement that ongoing efforts to “improve organizational efficiency” and “garbage collect unnecessary processes” would necessitate the headcount reduction.
“As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs, and that will be in service of both building a
Trending: A Professor Abandoning A Spouse And Kids For A College Student Isn’t Brave, But Wicked
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!