Tis the season for tech layoffs it seems! Right off the back of Elon’s unfair (and semi-regretful
on his behalf apparently) Twitter layoffs,
Meta is following in its footsteps. Yesterday, they announced that they were cutting 11,000 jobs (13% of its workforce), but unlike the Twitter sitch where people weren’t kept in ANY loops, I think… dare I say it… Zuckerberg handled it much better.
“Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected,” Chief Executive Officer Mark Zuckerberg said in a message to employees.
“I got this wrong, and I take responsibility for that.”
“a red-eyed Zuckerberg addressed employees but took no questions. He stuck to a script that closely followed the wording in the morning’s blogpost and called the increased investments in e-commerce a "big mistake in planning.”
He said he would host another townhall on Friday in which he would take questions.
Seems like this is a trend in a LOT of tech companies at the moment - I can’t help but wonder if all the brilliant minds that are jaded by being in this industry will band together and build some fucking cool new stuff?? Kinda hope so!