"My guess is that we're we're not the only company that's going through multiple rounds of restructuring or things like that. "I do think that you want to give people space to evolve their opinions on things and we're in a volatile environment," he added. "I think it's a completely fair question," Zuckerberg said. The stock jumped on the sales figures and on CEO Mark Zuckerberg’s comments about the company’s. Meta Platforms Inc. At the time, Zuckerberg had said the initial layoffs would "minimize the chance of having to do broad layoffs like this for the foreseeable future," The Washington Post previously reported. Meta reported better-than-expected fourth-quarter revenue after the market closed on Wednesday. The billionaire also addressed another question from a Meta staffer that asked how his perspective had shifted from November. "Whether you think you basically get good context for me on what we're trying to do and that I'm being honest and giving you my best expectation that that I can of things." "I would guess that the way that you will evaluate whether you trust me and whether you want to work at this company is whether we're succeeding and making progress towards the overall state of goals," Zuckerberg said. He added that based on his life experience, transitioning to a four-day work week all the time would not be productive.Account icon An icon in the shape of a person's head and shoulders. Meta, the owner of Facebook and Instagram, said on Tuesday that it planned to lay off about 10,000 employees, or roughly 13 percent of its work force, the latest move to hew to.
He also encouraged exhausted employees to use their vacation days. The social media giant is thinking of extending existing three-day holiday weekends, Zuckerberg said, responding to a question on burnout. Meta is already talking about ways to retain staff amid the stock rout. Zuckerberg’s own wealth dropped by $31 billion. Others fretted about what a continued decline might mean for their net worth, according to people familiar with the matter.
Some were discussing buying shares during the dip, believing in Zuckerberg’s long-term vision for the metaverse, an immersive version of the internet. Meta CEO Mark Zuckerberg said the social-media giant will make 2023 the year of efficiency and signaled that more layoffs could be in the offing as. Facebook lost a record $251 billion of value in a single day. Chief Executive Officer Mark Zuckerberg outlined sweeping plans to reorganize teams and reduce headcount for the first time ever, calling an end to an era of rapid growth at. Meta’s Instagram app has a copycat of TikTok called Reels, which the company is now prioritizing.Įmployees were glued to the stock price. Zuckerberg echoed his remarks of a day earlier to investors, telling employees that the social networking giant faced an “unprecedented level of competition,” with the rise of TikTok, the rival viral-video platform. It is important to focus on growing Facebook’s short-video product, he said. His red, teary eyes were the result of a scratched cornea, the Facebook founder said Thursday, attempting to lighten the mood as Meta Platforms Inc.’s stock price lost more than a quarter of its value.Īt a company-wide virtual meeting, Zuckerberg explained that the historic stock drop was a result of Meta’s weak forecast for revenue in the current quarter, according to a person who attended and was not authorized to speak about it. Peter Thiel to Leave Meta Board to Pursue Trump Agenda Meta Renews Warning to EU It Will Be Forced to Pull Facebook His red, teary eyes were the result of a scratched cornea, the. Mark Zuckerberg quipped that if he started to cry, it wasn’t because of the day’s news. The stock represents one vote per share and trades under the ticker 'META' on the Nasdaq Global Select Market. 1:59 This article is for subscribers only. Meta still has 3.8 billion daily active users and reported revenue growth of 37 for the year. The Chan Zuckerberg Initiative (CZI) is a new kind of philanthropy thats on a mission to help build a more inclusive, just and healthy future for everyone. Ottawa Declares Emergency as Protests Spin ‘Out of Control’ As of Oct 21, 2022, Meta had 2,248,672,204 shares of class A common stock outstanding. Metas stock is down 30 since its Q4 earnings release. We’re Fine Without Facebook, German and French Ministers Say (Bloomberg) - Mark Zuckerberg quipped that if he started to cry, it wasn’t because of the day’s news.Īmazon Is Raising Base Salary Cap to $350,000 From $160,000
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