Meta, one of the largest social media companies in the world with approximately 88,000 employees, plans to terminate thousands of employees in mid-November.
The Wall Street Journal (WSJ) November 6 According to the report published on will affect thousands of employees preparing for a layoff. The company has spent the past few months 10% down on this road to reduce the number of staff indicated that it would be effective.
With the stagnation of the technology trend in the market, we passed 12 months shares in over 70% The expenses of the social media company, which lost value, increased sharply. Inevitably, the last quarter free cash flow over 98% The company said it would reorganize costs. According to the information received, Zuckerberg, at a general meeting at the end of June, “Realistically, there’s probably a group of people at the company that shouldn’t be here.” said.
Meta from its work in the metaverse space in the third quarter of 2022 3.7 billion While declaring a dollar loss, the company’s total loss in this area is 9.7 billion reached dollars. In a press release following the release of the third quarter financial reports, the CEO said that this area more than meets the eye expressed and invested in those who are patient He stated that he believed it would be profitable.