Everyone impacted will receive their Novemvesting.
#ZUCKERBERG TELLS FOCUS VIDEO META STOCK PLUS#
We will pay 16 weeks of base pay plus two additional weeks for every year of service, with no cap. After that, every affected employee will have the opportunity to speak with someone to get their questions answered and join information sessions. There is no good way to do a layoff, but we hope to get all the relevant information to you as quickly as possible and then do whatever we can to support you through this.Įveryone will get an email soon letting you know what this layoff means for you.
But these measures alone won’t bring our expenses in line with our revenue growth, so I’ve also made the hard decision to let people go. We’re restructuring teams to increase our efficiency. We’ve cut costs across our business, including scaling back budgets, reducing perks, and shrinking our real estate footprint. We’ve shifted more of our resources onto a smaller number of high priority growth areas - like our AI discovery engine, our ads and business platforms, and our long-term vision for the metaverse. In this new environment, we need to become more capital efficient.
I got this wrong, and I take responsibility for that. Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. Unfortunately, this did not play out the way I expected. I did too, so I made the decision to significantly increase our investments. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I know this is tough for everyone, and I’m especially sorry to those impacted.Īt the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. I want to take accountability for these decisions and for how we got here. We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. Zuckerberg believes is the future of his company but is still largely unproven.Mark Zuckerberg just shared the following with Meta employees: Meta has shown signs of slowing financially for most of the year as it makes an aggressive move toward offering products for the nascent metaverse - an area that Mr. “Many teams are going to shrink so we can shift energy to other areas.”
Zuckerberg said in a July earnings call with investors. “Our plan is to steadily reduce head count growth over the next year,” Mr. Meta declined to comment, but a company spokesman referred a reporter to public remarks made by Mr. If the employees did not find roles on other teams, they could lose their jobs at the company. One Meta employee, who asked not to be named because employees were not authorized to speak to reporters, said managers had already begun identifying low-performing employees by referring them to a “performance review” process. Managers across Meta had been asked to reduce budgets, either by not filling vacant roles or by reducing their existing head counts. Zuckerberg said he had to plan conservatively to reflect a drop in revenue at the company. According to employees who attended the meeting, Mr. Zuckerberg made the announcement in his weekly question-and-answer session with employees. The hiring freeze was reported earlier on Thursday by Bloomberg.
0 kommentar(er)
