Posted on 09/21/2022 5:13:58 PM PDT by libh8er
Meta has begun cutting staff and reorganizing teams in an effort to cut costs, according to a new report in The Wall Street Journal. The company apparently doesn’t want to frame the changes as layoffs, but is reportedly “quietly nudging out a significant number of staffers” as it prepares for more significant cuts.
It’s not clear how many Meta employees have been affected so far. According to the report. Meta has been allowing staffers to apply for new jobs within the company, but workers only have a 30-day window to do so. The result, according to The Journal, is that “workers with good reputations and strong performance reviews are being pushed out on a regular basis.”
Meta has been signaling for some time that it will reduce staff and cut projects as it deals with shrinking revenue amid what Mark Zuckerberg has described as an “economic downturn.” The CEO warned during the company’s most recent earnings call that Meta would slow hiring and would need to “get more done with fewer resources.”
Zuckerberg has recently told employees the company is facing “serious times” and managers have been asked to identify “low performers” to cut. The company has also axed some projects from its Reality Labs division, which has lost $10 billion in 2021. Dozens of Meta contractors employed by an outside firm were also recently told their jobs had been eliminated.
I thought Teams was a Microsoft product?
Couldn’t have happened to a more despised organization.
Meta lost a $175 million patent case in Texas today.
they also lost the ability to censor texas residents the other day.
Stock at its lowest since the April 2020 crash.
People actually dislike election thieves?
A fairly good one at that.
Zuck net worth down 75b. Only the 20th richest person now.
Thank you for the good news.
Gee, I hope Meta keeps their heavy-handed censorship teams. Facebook just wouldn’t be the same without them.
Here’s what happens when a layoff is telegraphed. The best people, the ones whose absence will be most keenly felt will make a phone call and be out the door by the end of the week. The rest will start going in the order of their criticality and value to the company. When you finally get to the layoff the only ones left are those who simply can’t afford to leave because of personal reasons and those you really should have fired a long, long time ago. Guess who you end up keeping. Yep, some putrid combination of lackluster C grade employees and people who couldn’t find other employment. The company may never recover.
What should they have done? It’s a mistake to keep poor performing employees. They should have been pruning from day one.
Meta was a big mistake ,LOL
He and Tom from my space can
Out now
Meta is Facebook.
Facebook is a reliable source for providing “leads” to the FBI. Talk about election fraud on Facebook and you too can become a “lead”. I suspect that MAGA sympathy would yield the same result.
Forget Facebook. Don’t go there. Let them suffer from their stupid FBI policy.
You have to report to the Bobs
Reorganizing things to get ready for the midterms?
Once the word got out that these social media “giants” were using fake accounts to jack up prices to advertisers, they had to shrink to actual size.
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