Facebook/Meta to lay off 11,000 (13% of their workforce). Stock has dropped "more than 71% since the beginning of the year and the stock now trades at levels last seen in 2015." In a prepared statement Mark Zuckerberg admitted, "Unfortunately, this did not play out the way I expected." Ya think?
Don't feel too bad for the laid off employees as they "will receive 16 weeks of base pay, plus two additional weeks for every year with the company." In addition they will receive 6 months of paid health insurance and compensation for any unused PTO. Not a bad deal.
Two additional notes; found it interesting that the AP article referred to Elon Musk as "billionaire Elon Musk" but did not apply the same adjective to Zuckerberg. Second, we should remember that a year ago about this time Zuckerberg declared that Facebook was "going to war" with Apple over Apple's new privacy policies. Guess it's now clear who won that war.
So they will be in extended training on how to live and not work, courtesy of Zuck.
ReplyDeleteAnd how many of them will spend that paid time in the Metaverse? How many were getting high on their own supply? It's a sociology experiment and study in waiting. Would be interesting to see how many of the 11,000 ended up at their peak earning and achievement wise plus how many ended up serving fast food fries or fentanyl overdose.
ReplyDelete