Monday, 05 Dec 2022

Why Mark Zuckerberg had to announce 11,000 job cuts at Meta

Why Mark Zuckerberg had to announce 11,000 job cuts at Meta


Why Mark Zuckerberg had to announce 11,000 job cuts at Meta

There are a lot of reasons why Mark Zuckerberg felt he had no choice but to institute a bruising wave of 11,000 redundancies at Meta.

Meta is shedding staff from its profit engines to fund a megabillion investment in an uncertain future. The baffling thing is, underneath it all, Meta remains a tremendously profitable company, with multiple megascale social networks, a best-in-class advertising business, while its upstart Chinese rival TikTok struggles into uncertain geopolitical headwinds.

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