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

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.

Fortune

Facebook-Parent Meta, Hit By Hard Times In 2022, May Be Overcoming Obstacles

Meta stock jumped as it received a positive review and an upgrade by a prominent Wall Street analyst Friday, citing improved fundamentals.

Investors Business Daily

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 - AU

From analysis to the latest developments in health,
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‘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?

The Guardian - UK

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

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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.

Fortune

The Guardian view on big tech: pop! goes the bubble

Editorial: The behemoths of Silicon Valley face some serious shrinkage and a reckoning with the societies they work in

The Guardian - UK

What is Meta as Facebook and Instagram owner slashes thousands of jobs

The tech giant will cut 13 per cent of its entire workforce as part of the cuts - this comes as part of a major restructuring of the entire company Meta, parent of Facebook.

Glasgow Live

Mark Zuckerberg can sack 11,000 workers but shareholders can't dump him: it's called 'management entrenchment'

“I want to take accountability for these decisions and for how we got here,” tech billionaire Mark Zuckerberg told the 11,000 staff he sacked this week.

The Conversation

Thursday briefing: Mark Zuckerberg’s Meta cuts 11,000 jobs – is the Facebook founder’s empire falling?

In today’s newsletter: The social media titan is having its first major wave of layoffs since it began in 2004 – and it’s not the only tech company facing problems.

The Guardian - UK

Meta to cut 11,000 jobs; Zuckerberg says, ‘I got this wrong’

Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs, calling himself responsible for the first major round of layoffs in the social media giant’s history.

Tribune News Service

Meta mass sackings show Mark Zuckerberg is rattled

Investors only have themselves to blame for not insisting on equal voting rights to rein in tech pioneer

The Guardian - UK

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The Guardian - UK

Why Mark Zuckerberg had to announce 11,000 job cuts at Meta

Company thought rise in online activity would last, rivals stole its users, and metaverse was too uncertain for shareholders

Tribune News Service

Meta to cut 11,000 jobs; Zuckerberg says, ‘I got this wrong’

Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of layoffs in the social media giant’s history.

Fortune

Disney is still on track for streaming profitability—but a storybook ending isn’t guaranteed

The worsening economy and sky-high losses add to concerns about Disney’s ability to make money off streaming.

Investors Business Daily

In An Emotional Letter, Zuckerberg Details Reason For Mass Meta Layoffs

Meta stock climbed as Chief Executive Mark Zuckerberg announced plans to slash about 11,000 jobs, or 13% of its workforce.

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Bangkok Post

Facebook owner Meta to lay off 11,000 staff

PARIS: Facebook owner Meta will lay off more than 11,000 of its staff in "the most difficult changes we've made in Meta's history", boss Mark Zuckerberg said on Wednesday.

Tribune News Service

Zuckerberg says ‘sorry’ as Meta begins slashing over 11,000 jobs

Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of layoffs in the social media giant’s history.

Irish Mirror

Facebook layoffs: Hundreds of Irish jobs at risk as Meta confirms cuts worldwide

In a message earlier on Wednesday, Mark Zuckerberg informed the public that that the company will reduce the size of the global workforce by about 13%.

The Guardian - UK

Facebook owner Meta to sack 11,000 workers after revenue collapse

Mark Zuckerberg says firm overinvested at start of Covid, adding ‘I got this wrong’

Dublin Live

Meta layoffs: Facebook and Instagram parent company to slash tens of thousands of jobs

The multinational giant is set to let go 13% of its workforce

Daily Mirror

Facebook, Instagram and WhatsApp slash more than 11,000 jobs in mass cull

Meta founder and chief executive Mark Zuckerberg said the cuts were "some of the most difficult changes" he has made in his company's history

WEKU

Facebook parent company Meta sheds 11,000 jobs in latest sign of tech slowdown

CEO Mark Zuckerberg apologizes for the layoffs, which represent the first large-scale workforce reduction in the company's 18-year history.

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