According to the "Daily Mail" local time in the early morning of March 12, Mark Zuckerberg's Meta company will lay off thousands of employees in the next few days, which is another large-scale layoff after the layoff of 11,000 employees in November last year, which has also attracted a lot of attention from the outside world.
According to reports, Meta executives hope that Zuckerberg can complete the layoffs before taking parental leave, which will avoid a lot of trouble.
Zuckerberg, 38, will soon welcome a third child with his beloved wife, Priscilla Chan. He has already revealed that the third child is also a girl. This means that the founder of Facebook will soon be surrounded by three daughters.
It is worth noting that Zuckerberg will cut jobs related to the "metaverse" this time, including the team working on the "metaverse passion" project that he values the most.
The review noted that Meta is abandoning products related to popular virtual reality and augmented reality. According to the Wall Street Journal, Meta shares rose nearly 2% in after-hours trading after the news. It can be seen how unappreciative the market is of what Zuckerberg is passionate about.
Although the value of wealth has recovered somewhat, Zuckerberg will not be very happy, in fact, he has made a difficult decision. He has a vision to turn Meta into a "virtual reality company" that allows users to feel like they're "in" the internet, rather than viewing it through a device.
Back in 2021, Zuckerberg had high hopes for the virtual world, and his company "spent months" developing it. "I think if all goes well, in the next 5 years or so, we're going to effectively transform from what people think of as a social media company to a metaverse company."
But apparently Zuckerberg still can't take off his glasses to look at the real world, and he insists on investing a lot of money in these projects, resulting in billions of dollars in losses. Since the beginning of 2022, Meta's stock price has been falling continuously, falling by 71.5%, which is very painful.
The sharp decline in corporate and personal assets also sobered Zuckerberg from his obsession, and Meta's stock price soared about 43% at the beginning of the year after painfully laying off 11,000 people. And this time, the layoffs have not really begun, and the market has shown a welcoming attitude.
Last November's layoffs were Meta's first large-scale layoffs since its inception, reducing the number of employees by at least 11%, and the latest round of layoffs is also a big turmoil for Meta, the world's largest technology company.
In addition to the abolition of departments related to the "metaverse", the "new product experimentation department", a department established in 2019 to develop new consumer-centric applications, will also be closed.
It is reported that thousands of people who have been laid off this time are expected to receive four months' salary as "severance pay", in addition to additional compensation based on the length of their tenure with the company.