- by foxnews
- 20 Nov 2024
Why Mark Zuckerberg had to announce 11,000 job cuts at Meta
Why Mark Zuckerberg had to announce 11,000 job cuts at Meta
- by theguardian
- 10 Nov 2022
- in technology
1.3 k views
There are a lot of reasons why Mark Zuckerberg felt he had no choice but to institute a bruising wave of 11,000 redundancies at Meta.
Meta is shedding staff from its profit engines to fund a megabillion investment in an uncertain future. The baffling thing is, underneath it all, Meta remains a tremendously profitable company, with multiple megascale social networks, a best-in-class advertising business, while its upstart Chinese rival TikTok struggles into uncertain geopolitical headwinds.
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