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The Latest Breaking News on Facebook issues more tough-luck news to workers

Mark Zuckerberg's 'year of efficiency' now means another 10,000 layoffs and a hiring freeze on 5,000 more jobs

Here it is. Facebook parent Meta just announced further cost-cutting measures after employees have spent weeks bracing for more pain.

Fortune

Zuckerberg’s Meta to lay off another 10,000 employees

Restructuring, as part of the company’s ‘Year of Efficiency’, also sees 5,000 unfulfilled job adverts closed

The Guardian - US

Facebook parent Meta to lay off another 10,000 workers

The company in February posted lower fourth-quarter profit and revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok.

Chicago Sun-Times

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Meta to cut 10,000 more jobs, eliminate 5,000 openings

It's the second round of layoffs to hit the tech giant in the past few months.

Axios

Meta to cut another 10,000 jobs as Zuckerberg tells staff: ‘This will be tough and there’s no way around that’

The cuts add to the 11,000 staff that were let go in November last year

Evening Standard

Facebook parent Meta slashes another 10,000 jobs

Facebook’s parent Meta will slash another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs

The Independent UK

Big tech in crisis: the cuts, lay-offs and worried workers at Twitter and Meta

After years of growth, the social media giants are slashing at budgets in post-Covid difficulties, leaving morale to slump...

Evening Standard

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Meta just gave thousands of employees poor performance reviews that could clear the way for more layoffs during its 'Year of Efficiency'

Threat comes after 11,000 workers lost their jobs in November.

Fortune

Meta Plans Fresh Job Cuts To Kick Off ‘Year Of Efficiency’

Meta, which let go of 11,000 employees back in November, is considering another round of layoffs

Zenger

Meta employees are reportedly bracing for more layoffs amid delays to finalized budgets: ‘It’s still a mess’

“The year of efficiency is kicking off with a bunch of people getting paid to do nothing," one Meta employee told the FT.

Fortune

Tech giants are pivoting to a 'Year of Efficiency'

The year ahead will be all about refocusing on priorities for tech giants.

Fortune

Meta Shares Soar Most Since 2013 on Zuckerberg’s Vision

Meta Platforms Inc. is headed for its biggest single-day gain in almost a decade after Chief Executive Officer Mark Zuckerberg laid out plans to make the social media giant leaner, more efficient and more decisive.

Tribune News Service

Meta may have spent at least $88,000 per person when it laid off 11,000 in 2022. This year could see even more job cuts

And those aren’t even the costliest recent tech layoffs.

Fortune

Meta shares soar as Zuckerberg ushers in ‘year of efficiency’

Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg struck a new tone with investors Wednesday: The social media giant will be leaner, more efficient and more decisive, with a big assist from artificial intelligence.

Tribune News Service

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news in one place.

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Tribune News Service

Meta soars after sales beat, rosy forecast as Facebook grows

Meta Platforms Inc. posted quarterly sales that topped estimates, gave a rosy revenue forecast and indicated Facebook and Instagram still have room to grow, signaling it’s on course for a turnaround after its most difficult year.

The Guardian - US

Meta earnings drop by less than expected with boost from Reels

Parent company of Facebook and Instagram reports $32bn in revenue for fourth quarter, prompting rise in stock price

Zenger

Meta Employees Undermine Zuckerberg’s Metaverse Strategy

Meta employees are expressing discontent with Mark Zuckerberg and his metaverse strategy on anonymous jobs forums such as Blind.

WEKU

From Twitter chaos to TikTok bans to the metaverse, social media had a rocky 2022

From Facebook's troubled pivot to the metaverse to Twitter's management chaos to industry-wide layoffs, social media companies have had a rocky 2022

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Fortune

Tech titan John Carmack leaves Meta as doubts swirl about Mark Zuckerberg’s metaverse push

Comments like "we constantly self-sabotage and squander effort" in his exit letter will do little to reassure nervous Meta investors.

The Guardian - AU

Five Great Reads: Facebook’s virtual insanity, looking back on Qatar, and an awkward breakup

Guardian Australia’s weekend wrap of essential reads from the past seven days, selected by Kris Swales

The Guardian - UK

‘The metaverse will be our slow death!’ Is Facebook losing its $100bn gamble on virtual reality?

The company now known as Meta has spent staggering amounts on creating an immersive successor to the traditional 2D internet. But what has it got to show for it, apart from 11,000 job losses?

Fortune

Zuckerberg skeptical of skeptics, $1 billion in NFT creator royalties, and real-life metaverse clothing from Forever 21

Meta founder Mark Zuckerberg said he doesn't care what people say about his metaverse, plus news on OpenSea's $1 billion creator royalty program and real-life metaverse clothing.

Fortune

Meta pushes back on ‘false’ report that Zuckerberg is planning to step down as CEO

The Leak, citing an anonymous source, claimed that Zuckerberg would depart in 2023 because of the company’s recent losses.

Fortune

Airbnb's CEO has a new way of describing the current state of the tech industry. And it's a twist of Warren Buffett's 'swimming naked'

“It’s like we’re all in a nightclub and the lights just came on,” Chesky said.

Fortune

Shell-shocked Meta employees say the massive layoffs are a 'shit show' after years of overhiring

Meta critics blame Mark Zuckerberg for reckless growth and overhiring, leading to 11,000 laid-off workers at the company. Zuckerberg agrees.

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