Meta, which owns Facebook, Instagram and WhatsApp lays-off 11,000 employees

[Chippy_Tea]

In total 11,000 employees are to be laid off from its worldwide headcount of 87,000 people.
In a statement, Meta chief executive Mark Zuckerberg said the cuts were "some of the most difficult changes we've made in Meta's history".
The news follows major lay-offs at Twitter, which cut about half its staff, and other tech firms.
"I know this is tough for everyone, and I'm especially sorry to those impacted," he wrote in the statement.
Mr Zuckerberg blamed massive long-term expectations for growth based on the firm's rise in revenue during the pandemic.
"Many people predicted this would be a permanent acceleration," he wrote, "I did too, so I made the decision to significantly increase our investments."
Instead he said "macroeconomic downturn" and "increased competition" caused revenue to be much lower than expected
"I got this wrong, and I take responsibility for that," he said.
https://www.bbc.co.uk/news/technology-63568585

 

[chthon]

That means that originally it had 84000 employees, and now still 73000. One wonders what all these people do, in contrast to a company like CNH, which employs around 64000 people, but which builds real products, ranging from garden implements to combines and tractors, and associated things.

I work for a software/workfloor automation company, with around 40 people, and our software is probably more complex than all three above.

 

[Stan's Brew]

Get woke, go broke, it was only a matter of time before people flee the platform as a result of censorship, pushing mainstream media agendas and state sponsored mis/disinformation, people have lost trust and advertisers see no revenue return. It's happened to a few other companies in the last few years.

 

[Polcho]

He’s lost money trying to turn the human race into VR zombies. The money that has gone into trying to make an alternate universe is sickening when people don’t have basic health care or food in their bellies.

Needs to wake up and smell the coffee, ****.

 

[Rodcx500z]

Netflix is another people leaving in their millions

 

[Rodcx500z]

Get woke, go broke, it was only a matter of time before people flee the platform as a result of censorship, pushing mainstream media agendas and state sponsored mis/disinformation, people have lost trust and advertisers see no revenue return. It's happened to a few other companies in the last few years.

What is (get woke) I know the word but don't know the meaning, i am guessing here that it is one of those new fancy buzz words folk like to use to pidgen hole people

 

[crowcrow]

If you consider yourself woke: enlightened, aware of the impact you might have on other people, awake to the biases and injustices in our current set up

If you consider others woke: wet blanket, snowflake, 'virtue signalling', fake concern about issues to define and separate you from 'conservative values' (small c)

I consider myself the former, but I don't bang on about it - being nice doesn't define me

 

[crowcrow]

I work in it/tech, and am seeing loads more 'I am looking for a new role' posts on LinkedIn, not people let go from Meta, just people from across IT uk and elsewhere. Going to be tight times ahead!

 

[Chippy_Tea]

Netflix is another people leaving in their millions

I cancelled mine a while ago if it was £5 a month for HD with no adverts I would sign up but this new package low price package with adverts will not tempt me back in.

 

[dcbrookes]

In total 11,000 employees are to be laid off from its worldwide headcount of 87,000 people.

As long as Nick Clegg is one of those to be sacked it won't all be bad news.

 

[Chippy_Tea]

As long as Nick Clegg is one of those to be sacked it won't all be bad news.

I wasnt aware Nick Clegg worked for Mark Zuckerberg so how is that going to work?

 

[dcbrookes]

I wasnt aware Nick Clegg worked for Mark Zuckerberg so how is that going to work?

Clegg is "President for Global Affairs at Meta Platforms".

 

[crowcrow]

I wasnt aware Nick Clegg worked for Mark Zuckerberg so how is that going to work?

President of Global Affairs, I guess his job won't be on the chop for a bit, esp as he is called out in the case with OnlyFans: Nick Clegg, Meta and the OnlyFans allegations | The Week UK

They'll want him inside the tent a bit longer!

 

[Chippy_Tea]

Clegg is "President for Global Affairs at Meta Platforms".

In that case i guess 11,000 jobs is a small price to pay however @crowcrow is probably right.

 

[Bernie]

In a statement, The Homebrew Forum chief executive Chippy_Tea said the cuts were "some of the most difficult changes we've made in The Homebrew Forum's history".
The news follows major lay-offs at Twitter, which cut about half its staff, and so would be renamed Twit.
"I know this is tough for everyone, and I'm especially sorry to those impacted," he lied in the statement.
Mr Chippy_Tea blamed massive long-term expectations for growth based on the The Homebrew Forum's rise in home brewing during the pandemic.
"Many people predicted this would be a permanent acceleration," he wrote, "I did too, so I made the decision to significantly increase our drinking."
Instead he said "macroeconomic downturn (skint)" and "increased competition (DIY)" caused home brewing to be much lower than expected
"I got this wrong, and I blame my wife for that," he said.

 

[Stan's Brew]

I wasnt aware Nick Clegg worked for Mark Zuckerberg so how is that going to work?

It wouldn't be surprising if Clegg has played a major part in the slow downfall of Meta - with the best woke intentions of course, but enacted in an overzealous manner.

 

[crowcrow]

I think their days have been numbered for ages - young people just aren't there in the numbers they once were, older are drifting away too, they gambled a lot in the metaverse and in oculas that is only just making a profit.

Sure they will rumble on another 20 years, but pretty sure somewhere else will will their niche soon.

Will be shocked if twitter lasts the decade too.