Mark Zuckerberg warns that ‘new economic reality’ could continue for years, as Meta makes more layoffs
That’s Meta Chief Executive Mark Zuckerberg, who spoke of the “humbling wake-up call” his company experienced last year as the “world economy changed, competitive pressures grew, and our growth slowed considerably.”
Read:... “‘At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years.’” Zuckerberg made his comments in a note to staffers as he announced a new round of layoffs that’s expected to affect 10,000 Meta META employees. The company announced an earlier round of cuts, affecting about 11,000 employees, back in November.
The company has “the opportunity to be bolder and make decisions that other companies can’t,” he wrote, saying that Meta’s new financial plan “enables us to invest heavily in the future while also delivering sustainable results as long as we run every team more efficiently.”
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