Zuckerberg Sacks 11,000 “Teammates” After Meta’s Stock Plunged 70 %

Mark Zuckerberg

Mark Zuckerberg, Meta’s (Facebook) head honcho, is taking responsibility for a staggering round of layoffs involving 11,000 employees. According to the New York Post, this impacts 13 percent of Meta’s workforce. The company has never laid off this many workers in its history. 

After spending years establishing a political censorship regime and a despicable reputation for reported partisan election interference on behalf of Democrats, “Meta’s stock has plunged more than 70% this year as Zuckerberg pours billions into a troubled metaverse project despite sagging ad revenue and declines in its user base.”

To his credit, the often aloof billionaire says he’s taking responsibility for his mistakes that led to the financial conditions that caused the layoffs. Zuckerberg said, “I got this wrong, and I take responsibility for that.” The company is also providing a generous severance package to employees impacted by the layoffs.

Zuckerberg said the job cuts would be spread across the “metaverse,” which includes Instagram, WhatsApp, and its Reality Labs division. Aside from layoffs, the corporation is making other “cost-cutting moves” such as a temporary hiring freeze, employee “desk sharing,” and cutting “discretionary spending.”

According to PC Mag, counting on a continuation of the online shopping increases that occurred during the CCP virus restrictions that “shut down” much of the world, “Meta added more than 42,340 employees…,” which Zuckerberg now admits was a mistake. 

During a meeting in June, Zuckerberg again, showing he’s not great at the warm and fuzzy, reportedly said, “Realistically, there are probably a bunch of people at the company who shouldn’t be here.”

As 13 percent of Zuck’s “teammates” head into the holiday season jobless, Business Insider reports, as of August 2022, the Meta Man still has a net worth of $37.2 billion, down from $64.7 billion in August, according to Business Insider. 

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