Meta

Facebook-parent Meta Platforms said on Tuesday it would cut 10000 jobs this year, making it the first Big Tech company to announce a second round of mass ...

Zuckerberg said he planned to further reduce the size of the recruiting team, which was especially hard-hit in the fall layoffs. Its headcount stood at 86,482 at 2022-end, up 20% from a year ago. Both changes were initially reported by the Wall Street Journal. But last year was a humbling wake-up call," Zuckerberg wrote. Meta shares jumped 6% on the news. With the latest move, Meta expects expenses in 2023 to come in between $86 billion and $92 billion, lower than the $89 billion to $95 billion forecast previously. Restructurings in the tech group would be announced in late April and cuts to business groups would come in May. [job cuts](/markets/us/tech-firms-wall-street-titans-lead-job-cuts-corporate-america-2023-02-08/) across corporate America: from Wall Street banks such as Goldman Sachs [(GS.N)](https://www.reuters.com/companies/GS.N) and Morgan Stanley [(MS.N)](https://www.reuters.com/companies/MS.N) to Big Tech firms including Amazon.com [(AMZN.O)](https://www.reuters.com/companies/AMZN.O) and Microsoft [(MSFT.O)](https://www.reuters.com/companies/MSFT.O). Register for free to Reuters and know the full story In a message to staff, Chief Executive Mark Zuckerberg said most of the cuts would be announced in April and May, though in some cases they would continue through the end of the year. "For most of our history, we saw rapid revenue growth year after year and had the resources to invest in many new products. [(META.O)](https://www.reuters.com/companies/META.O) said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn.

Facebook-parent Meta plans to lay off another 10000 workers, marking the second round of significant job cuts announced by the tech giant in four months.

During the earnings call, Zuckerberg promised investors that 2023 would be the “year of efficiency” for the company, following years of heavy investment in growth and a more immersive version of the internet called the metaverse. When we did this, I said clearly that this was the beginning of our focus on efficiency and not the end,” Zuckerberg said during the earnings call in early February. With 11,000 job cuts announced in November and the 10,000 announced Tuesday, that would bring Meta’s headcount down to around 66,000 — a reduction of about 25%. In a “small number of cases, it may take through the end of the year to complete these changes.” “At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years,” Zuckerberg added. “We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May,” he wrote.

It would be the tech company's second round of cuts since November. Mark Zuckerberg, its chief executive, has declared 2023 the “year of efficiency.”

[midst of a tricky transition](https://www.nytimes.com/2022/10/09/technology/meta-zuckerberg-metaverse.html) to become a “metaverse” company, connecting people to an immersive digital world through virtual-reality headsets and applications. “There’s a lot of anger, and there’s the question many folks are asking: ‘How do you expect me to do work for the next two months while wondering if I will still have a job?’” “People are entering a job market that is the worst I’ve ever seen,” said Erin Sumner, a global director of human resources at DeleteMe, who was laid off from Facebook in November. But the expectation was that he would take a light touch to his favored project of the metaverse. “The world economy changed, competitive pressures grew and our growth slowed considerably,” he said. In November, Meta [laid off more than 11,000 people](https://www.nytimes.com/2022/11/09/technology/meta-layoffs-facebook.html), or about 13 percent of its work force at the time. Zuckerberg embarked on a quest to dial back what he felt was no longer necessary to run the company, according to current and former employees. Zuckerberg sees the metaverse as the next-generation computing platform, so Meta has been spending billions of dollars on the effort and reallocating workers to its Reality Labs division, which is focused on products for the metaverse. And regulators have stepped up efforts to rein in the company by pushing for new laws that would limit Meta’s data collection abilities. But to older employees who experienced the dot-com bust, it has hardly been a shock. But even beyond the macroeconomic conditions, Meta is dealing with many challenges. Meta also plans to close about 5,000 job postings that have yet to be filled, Mr.

Facebook parent company Meta will lay off another 10,000 employees, the company's billionaire CEO Mark Zuckerberg announced Tuesday, the second-such massive ...

At an all-hands meeting following the November cuts, Zuckerberg said the firings “minimize[d] [according](https://www.washingtonpost.com/technology/2023/02/22/meta-layoffs/)to the Post. [reported](https://www.washingtonpost.com/technology/2023/02/22/meta-layoffs/) last month Meta was preparing to lay off thousands of more employees, while the Wall Street Journal [reported](https://www.wsj.com/articles/facebook-parent-plans-new-job-cuts-that-could-match-last-years-tally-2d5b256c?mod=hp_lead_pos1) last week the fresh round of firings could match November’s in scale. [Meta Stock Climbs After Reports Of More Layoffs–Here’s Why](https://www.forbes.com/sites/brianbushard/2023/03/07/meta-stock-climbs-after-reports-of-more-layoffsheres-why/?sh=37feed5a4f52) [2023 Layoff Tracker: Meta Planning Another Large Round Of Cuts This Week, Reports Say](https://www.forbes.com/sites/brianbushard/2023/03/13/2023-layoff-tracker-meta-planning-another-large-round-of-cuts-this-week-report-says/?sh=212e7900760b) [Meta Stock Notches Best Day In 10 Years](https://www.forbes.com/sites/dereksaul/2023/02/02/meta-stock-on-pace-for-best-day-in-10-years/?sh=333f6cb9257e) (Forbes) [How To Bounce Back After Being Laid Off — Introducing Layoff Lifeline, A Weeklong Email Series](https://www.forbes.com/newsletter/layoff-lifeline/#7f33f7a4585d) (Forbes) [follows](https://about.fb.com/news/2022/11/mark-zuckerberg-layoff-message-to-employees/) the company’s firing of 11,000 employees in November. [announced](https://about.fb.com/news/2023/03/mark-zuckerberg-meta-year-of-efficiency/) Tuesday, the second-such massive round of layoffs as the company drastically cuts costs. Shares of the Silicon Valley firm rallied more than 6% as of 12 ET, as Wall Street continued to cheer on Meta’s commitment to trim costs and improve its bottom line.

Meta CEO Mark Zuckerberg announced the company is cutting another 10000 jobs after it laid off 11000 workers late last year.

"They've dedicated themselves to our mission and I'm personally grateful for all their efforts." People will be more productive, and their work will be more fun and fulfilling." "This will be tough and there's no way around that. That revelation was first-reported by Platformer Monday. "A leaner org will execute its highest priorities faster. Over the next few months, leaders at the company will announce restructuring plans focused on "flattening" Meta's organizations, canceling "lower priority" projects, and reducing hiring rates," Zuckerberg said in the statement.

Meta eliminará otros 10.000 empleos y no cubrirá 5.000 puestos que tiene vacantes para reducir costos, informó el martes la empresa propietaria de Facebook.

“He hablado de eficiencia este año y he dicho que parte de nuestro trabajo incluirá el recorte de empleos. En febrero dijo que una disminución de la publicidad online y la competencia de otras compañías como TikTok estaban pesando sobre sus resultados. A inicios del mes pasado, Meta informó que sus ganancias habían bajado y que sus ingresos se redujeron por tercer trimestre consecutivo.

Es la segunda ronda de despidos de Meta luego del anunciado en noviembre, cuando el recorte alcanzó a unos 11.000 empleados.

Añadió que la empresa se centraría en "aplanar" su estructura org y "eliminar algunas capas de mandos intermedios para tomar decisiones más rápido." Sin embargo, durante la presentación de resultados, Zuckerberg prometió a los inversores que 2023 sería el "año de la eficiencia" para la empresa, tras años de fuertes inversiones en crecimiento y una versión más inmersiva de Internet denominada metaverso. Pero la situación cambió radicalmente para el gigante de las redes sociales y otras empresas tecnológicas el año pasado, cuando las restricciones de la pandemia se suavizaron y la gente volvió a su vida offline. Meta casi duplicó su plantilla entre marzo de 2020 y septiembre del año pasado, ya que la crisis del covid-19 provocó un aumento de la demanda de servicios digitales. Meta no es ni mucho menos la única gran empresa tecnológica que ha sufrido despidos en un contexto de inflación, recesión y demanda pandémica. En septiembre de 2022, Meta contaba con 87.314 empleados, según una declaración de valores.

La compañía de Mark Zuckerberg, que ya había recortado 11000 empleos en noviembre, anunció que busca reducir el tamaño de su equipo de contrataciones a ...

"Hará que nuestra organización sea más horizontal al eliminar múltiples capas de gestión", dijo Zuckerberg. La empresa ha invertido miles de millones de dólares en enfocarse en el desarrollo del metaverso. "Significará decirles adios a talentosos y apasionados compañeros que han sido parte de nuestro éxito", agregó.

Juan Pablo Elverdin. (CNN) — Meta, empresa matriz de Facebook, planea despedir a otros 10.000 trabajadores, lo que supone la segunda ronda de recortes ...

Cuando lo hicimos, dije claramente que era el principio de nuestro enfoque en la eficiencia y no el final”, dijo Zuckerberg durante la llamada de resultados a principios de febrero. Sin embargo, durante la presentación de resultados, Zuckerberg prometió a los inversores que 2023 sería el “año de la eficiencia” para la empresa, tras años de fuertes inversiones en crecimiento y una versión más inmersiva de Internet denominada metaverso. Añadió que la empresa se centraría en “aplanar” su estructura org y “eliminar algunas capas de mandos intermedios para tomar decisiones más rápido.” Pero la situación cambió radicalmente para el gigante de las redes sociales y otras empresas tecnológicas el año pasado, cuando las restricciones de la pandemia se suavizaron y la gente volvió a su vida offline. Meta casi duplicó su plantilla entre marzo de 2020 y septiembre del año pasado, ya que la crisis del covid-19 provocó un aumento de la demanda de servicios digitales. Meta no es ni mucho menos la única gran empresa tecnológica que ha sufrido despidos en un contexto de inflación, recesión y demanda pandémica.

Meta to lay off 10,000 more workers after initial cuts in November · Meta CEO Mark Zuckerberg said Tuesday the company plans to cut 10,000 employees. · The ...

[announced](https://www.cnbc.com/2023/01/18/amazon-set-to-begin-new-round-of-layoffs-affecting-over-18000-people.html) a new round of layoffs in January, impacting 18,000 employees across multiple divisions. In January, [12,000 workers](https://www.cnbc.com/2023/01/20/google-parent-to-lay-off-12000-workers-memo.html), [Microsoft](https://www.cnbc.com/quotes/MSFT/) announced plans to cut [10,000 employees](https://www.cnbc.com/2023/01/18/microsoft-is-laying-off-10000-employees.html) and [Salesforce](https://www.cnbc.com/quotes/CRM/) said it planned to [cut 7,000 jobs](https://www.cnbc.com/2023/01/04/salesforce-is-cutting-10percent-of-its-workforce-more-than-7000-employees.html). The company's Reality Labs division that's tasked with creating the metaverse lost about $13.7 billion in 2022 on $2.16 billion of revenue. [Twilio](https://www.cnbc.com/quotes/TWLO/), [Dell](https://www.cnbc.com/quotes/DELL/), [Zoom](https://www.cnbc.com/quotes/ZM/) and [eBay](https://www.cnbc.com/quotes/EBAY/) also recently disclosed significant [reductions to their workforce](https://www.cnbc.com/2023/02/07/zoom-to-lay-off-1300-employees-or-about-15percent-of-its-workforce.html). He added that the Facebook parent plans to close 5,000 additional open roles that it hasn't yet filled. Zuckerberg told analysts in February that Meta plans "on cutting projects that aren't performing or may no longer be crucial" while simultaneously "removing layers of middle management to make decisions faster." Zuckerberg has pitched 2023 as the company's "year of efficiency," in which the firm aims to become "a stronger and more nimble organization." [announced](https://www.cnbc.com/2022/11/09/meta-to-lay-off-more-than-11000-thousand-employees.html) in November, that affected more than 11,000 workers, which equated to roughly 13% of Meta's overall staff. In a nod to continued economic uncertainty, Zuckerberg noted that the company should prepare for "the possibility that this new economic reality will continue for many years." [Meta](/quotes/META/) will lay off 10,000 more workers and incur restructuring costs ranging from $3 billion to $5 billion, the company [announced](https://about.fb.com/news/2023/03/mark-zuckerberg-meta-year-of-efficiency/) Tuesday, with CEO [Mark Zuckerberg](https://www.cnbc.com/mark-zuckerberg/) warning economic instability could continue for "many years." [SEC filing](https://www.sec.gov/ix?doc=/Archives/edgar/data/1326801/000132680123000035/meta-20230314.htm) announcing the cuts, Meta also said it anticipated lowered total expenses in 2023, ranging from $86 billion to $92 billion. - The CEO previously told analysts Meta plans "on cutting projects that aren't performing or may no longer be crucial" while simultaneously "removing layers of middle management to make decisions faster."

Facebook parent Meta will slash another 10000 jobs and will not fill 5000 open positions as the social media pioneer cuts costs.

Early last month, Meta posted falling profits and its third consecutive quarter of declining revenue. In addition to the layoffs, Meta said Tuesday that it would not fill 5,000 open positions. Meta and other tech companies have been hiring aggressively for at least two years and in recent months have begun to let some of those workers go.

Facebook parent Meta is slashing 10,000 jobs, about as many as the social media company announced late last year in its first round of cuts, as uncertainly ...

[let some of those workers go](https://apnews.com/article/technology-snap-inc-amazoncom-business-5012d95678b50f699498cb11b5f3913d). is still strong, but [layoffs have hit hard](https://apnews.com/article/layoffs-tech-media-how-to-prepare-5a70e7531a5711058f0cdec62569d85a) in some sectors. On the same day, the company said that it would buy back as much as $40 billion of its own stock. [in the U.S](https://apnews.com/article/inflation-federal-reserve-interest-rates-banks-economy-40c98d52a8bc71e21a228ed5c1cbde86). In addition to the layoffs, Meta said Tuesday that it would not fill 5,000 open positions. [11,000 job cuts](https://apnews.com/article/facebook-meta-layoffs-283a6e1c1a2e02a439d177a7acdf4296) in November, about 13% of its workforce at the time.

Meta eliminará otros 10.000 empleos y no cubrirá 5.000 puestos que tiene vacantes para reducir costos, informa la empresa propietaria de Facebook.

“He hablado de eficiencia este año y he dicho que parte de nuestro trabajo incluirá el recorte de empleos. En febrero dijo que una disminución de la publicidad online y la competencia de otras compañías como TikTok estaban pesando sobre sus resultados. A inicios del mes pasado, Meta informó que sus ganancias habían bajado y que sus ingresos se redujeron por tercer trimestre consecutivo.

Meta Platforms, la empresa matriz de Facebook, informó este martes 14 de marzo que eliminaría 10.000 puestos de trabajo este año, con el fin de reducir ...

Pero el año pasado fue una lección de humildad (…) Creo que debemos prepararnos para la posibilidad de que esta nueva realidad económica continúe por muchos años más", subrayó el director ejecutivo. Meta Platforms, la empresa matriz de Facebook, informó este martes 14 de marzo que eliminaría 10.000 puestos de trabajo este año, con el fin de reducir costos. Se trata de su segunda ronda de despidos masivos. [Microsoft que el pasado ](https://www.france24.com/es/ee-uu-y-canadá/20230118-microsoft-despidos-empleos-tecnologias-empresas) [18 de enero anunció el cese de 10.000 empleos.](https://www.france24.com/es/ee-uu-y-canadá/20230118-microsoft-despidos-empleos-tecnologias-empresas) Está previsto que la drástica medida pueda aliviar los temores de los inversionistas a medida que el crecimiento de los ingresos en los negocios principales de Meta se desaceleran. La decisión anunciada este 14 de marzo llega luego de que el pasado febrero Meta informara que sus ganancias se redujeron y sus ingresos disminuyeron por tercer trimestre consecutivo.

Meta Platforms, propietaria de Facebook, WhatsApp e Instagram, anunció el despido de unos 10000 trabajadores.

De cara a 2023, la directora financiera de Meta, Susan Li, expresó su confianza en que los ingresos totales del primer trimestre oscilen entre 26,000 y 28,500 millones de dólares, mientras que calcula que gastos totales para todo el año estarán en el rango de entre 89,000 y 95,000 millones de dólares, frente a la anterior perspectiva de entre 94,000 y 100,000 millones de dólares. A principios de febrero, Meta informó de que obtuvo un beneficio neto de 23,200 millones de dólares en 2022, lo que supuso una caída del 41% respecto del resultado anotado un año antes, mientras que sus ingresos anuales sumaron un total de 116,609 millones de dólares, un 1.1% menos que en 2021, lo que supone la primera caída anual de la facturación de la empresa. “Esto será difícil y no hay forma de evitarlo”, afirmó.

Meta announced another round of layoffs on Tuesday, which means the company will be cutting a fifth of its total workforce in just a few months.

He said the company is looking toward the future, and AI is going to be a big part of its products. This text may not be in its final form and may be updated or revised in the future. And there's definitely a tightening of the belt that's happening across all of these companies. All of these tech companies are talking about AI, and in his note, Zuckerberg said Meta is no different. If you add the layoffs from last fall and what was announced today, Meta is cutting roughly a quarter of its staff. And then, you know, this past week, we saw the collapse of Silicon Valley Bank, which backed a lot of tech companies and startups. And we've seen major layoffs at almost all of the top tech companies, including Amazon, Google, Microsoft and, of course, Twitter. This note is leaving a lot of people wondering what this billionaire CEO is thinking. CEO Mark Zuckerberg is calling this, quote, "the year of efficiency." From 2019 to 2022, it basically doubled its headcount, which is pretty common for tech companies during the pandemic. This is the year of efficiency. He also said these layoffs are part of a new economic reality, and he thinks that we're going to be in this reality for a while.

Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs.

The Menlo Park, California, company has invested billions of dollars to realign its focus on the metaverse. “As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs — and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long term vision,” said Zuckerberg. The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May.

"A challenging period." That's how Mark Zuckerberg described in a memo what the near future will be like for Meta employees after he announced the ...

“You can cut your way to profitability in the short term,” the former tech CEO said. “These companies become hugely profitable and the CEOs think that there are all these other areas they can expand into as part of their world domination plan,” the executive remarked. Zuckerberg indicated that the job cuts will not be complete until the end of May. Coupled with the new cuts, Meta will have cut about 24% of its workforce, or one in four employees, in just about half a year. Meta, in particular, has been battling some of the most severe headwinds in Silicon Valley. Most importantly, from a structural standpoint, Zuckerberg said he wants to flatten the company “by removing multiple layers of management.”

Mark Zuckerberg, co-founder and CEO of Facebook parent Meta, has pointed to internal data analysis that suggests engineers who initially joined the company ...

After a couple of rough years for Meta, the company he founded, Mark Zuckerberg is hoping for a turnaround. I suppose you can't blame him--things couldn't ...

That's the opposite of accountability. Not only that, but the majority of Zuckerberg's net worth is in Meta's stock. On the other hand, who thought unsustainable growth was a good idea in the first place? Now, as the economy settles back down to reality, that strategy doesn't look so great. [couple of rough years for Meta](https://www.inc.com/jason-aten/facebook-just-had-its-most-disappointing-quarter-ever-mark-zuckerbergs-response-is-1-thing-no-leader-should-ever-do.html), the company he founded, Mark Zuckerberg is hoping for a turnaround. The company's stock is up 26 percent since he started talking about his "year of efficiency." Then, the pivot to [building the metaverse](https://www.inc.com/jason-aten/5-things-mark-zuckerberg-said-about-his-plan-for-metaverse-that-should-make-you-very-worried.html) hasn't really panned out. It was up almost 7 percent just on Tuesday, when the company announced the additional layoffs. But there's really no good way to tell someone they're no longer going to get a paycheck since nothing you can say will make it easier to pay their rent. There is no question Meta, like many of its tech peers, had gotten bloated. It will mean saying goodbye to talented and passionate colleagues who have been part of our success. First, Apple's rollout of [App Tracking Transparency ](https://www.inc.com/jason-aten/apples-ios-145-is-imminent-what-it-means-for-your-iphone-your-privacy.html)cost Meta [as much as $10 billion](https://www.inc.com/jason-aten/apple-quietly-rolled-out-a-change-that-could-be-end-of-facebook.html).

Meta CEO Mark Zuckerberg has declared that 2023 is the company's “year of efficiency,” and according to a release, that includes “refining” Meta's ...

As part of the announcement, Zuckerberg said that an internal analysis of employee performance data suggests that engineers who work in person "get more done." [promoting remote roles in 2023](https://www.metacareers.com/facebook-life/remote/?p[offices][0]=Remote%2C%20Canada&p[offices][1]=Remote%2C%20France&p[offices][2]=Remote%2C%20Germany&p[offices][3]=Remote%2C%20Ireland&p[offices][4]=Remote%2C%20Italy&p[offices][5]=Remote%2C%20Netherlands&p[offices][6]=Remote%2C%20Poland&p[offices][7]=Remote%2C%20Spain&p[offices][8]=Remote%2C%20Sweden&p[offices][9]=Remote%2C%20UK&p[offices][10]=Remote%2C%20US&offices[0]=Remote%2C%20Canada&offices[1]=Remote%2C%20France&offices[2]=Remote%2C%20Germany&offices[3]=Remote%2C%20Ireland&offices[4]=Remote%2C%20Italy&offices[5]=Remote%2C%20Netherlands&offices[6]=Remote%2C%20Poland&offices[7]=Remote%2C%20Spain&offices[8]=Remote%2C%20Sweden&offices[9]=Remote%2C%20UK&offices[10]=Remote%2C%20US&no_rdr=0), and many employees have the option to work in person. The company carried its [flexible-work policies into 2021](https://www.cnbc.com/2021/06/09/facebook-will-let-all-employees-who-can-work-remotely-to-request-full-time-remote-work.html) when it announced that workers at all levels of the company could request to work remotely full-time. "This analysis also shows that engineers earlier in their career perform better on average when they work in-person with teammates at least three days a week." - As part of the announcement, Zuckerberg said that an internal analysis of employee performance data suggests that engineers who work in person "get more done." [Meta](/quotes/META/) CEO [Mark Zuckerberg](https://www.cnbc.com/mark-zuckerberg/) has declared that 2023 is the company's "year of efficiency," and according to a [release](https://about.fb.com/news/2023/03/mark-zuckerberg-meta-year-of-efficiency/), that includes "refining" Meta's distributed work model.

Facebook parent company Meta is slashing its workforce, part of a wave of layoffs roiling Silicon Valley during an uncertain economic climate.

Although Zuckerberg had hinted that more cuts were to come — Meta called 2023 the “ [year of efficiency](https://www.washingtonpost.com/technology/2023/02/02/google-meta-layoffs-sanfrancisco/?itid=lk_inline_manual_16)” — media reports detailing internal plans have caused a wave of anxiety and resentment among the company’s workforce, according to at least a half-dozen people familiar with the matter, who spoke on the condition of anonymity to discuss internal matters. Inside Meta, human resource managers, lawyers and top executives have been tasked with drawing up plans to reorganize workers within various divisions around the world, reevaluate projects and come up with lists of jobs to cut, according to a person familiar with the matter. But he added that the financial challenges facing Meta, including higher interest rates, geopolitical instability and increased regulation, could be the industry’s status quo for years to come. After a long period of seemingly unstoppable economic success, Google and Amazon are among some of the other large internet platforms that have cut their workforces. And it’s made a huge gamble on the “ “The economy rattled its ad business, there were the [Apple] iOS changes that caused advertisers to diversify some of their spending, and there was just increased competition for eyeballs.”

NPR's Sacha Pfeiffer talks to Wall Street Journal reporter Sam Schechner about the layoffs which will cut about 12% of Meta's workforce.

I think there is definitely pressure from investors and a new - you know, the era of free money is over for these Big Tech companies. And I think, you know, we've seen one round at a lot of big companies. And I think that's a real tone shift from the go-go times in - at least for the earnings of tech companies during the pandemic, as you said, when Meta was counting on - and a lot of tech companies were counting on - a fundamental change in the way people operate. In more recent quarters, they've said they've begun to see a path to recovery because they're using AI to help make up for some of that lost data, to infer some of the targeting information that they no longer can collect from their users' phones. SCHECHNER: I think those confluence of factors certainly are playing a role. PFEIFFER: Yeah, about those privacy settings - so Apple made a change that restricts the amount of data that apps collect. So I think all of those things together are factors. Do you believe that - those reasons? SCHECHNER: Well, it appears to have been, at least in some ways, temporary. So are these layoffs essentially returning Meta to its pre-pandemic level, or do you see it going deeper than that? PFEIFFER: During the pandemic, Meta and many other tech companies were just hiring madly. But there's also this vision that he's trying to get across of a leaner, more nimble company.

During the tech sector's pandemic-era boom, employee headcount became one of the reigning barometers of success. Quarter after quarter, alongside ...

AI server sales for 2022 come mainly from four big tech players, Microsoft, Alphabet, Meta Platforms, and Amazon, and the demand is creating tailwinds for ...

The video was published on March 10, 2023. [META](/quote/nasdaq/meta/) 1.92%) procured more AI servers than Amazon ( [AMZN](/quote/nasdaq/amzn/) 1.39%) in 2022, based on a report from TrendForce. The demand for AI servers is expected to be a massive driver for semiconductor companies like Advanced Micro Devices ( [AMD](/quote/nasdaq/amd/) 2.55%) and Nvidia ( [NVDA](/quote/nasdaq/nvda/) 0.69%) as the need for AI server GPUs continues to grow.

Meta announced 10000 more employees laid off, with 5000 new job openings closed and a companywide “restructuring." And so far, investors are digging it.

Meta is still down from its all-time high of $382.18 in September 2021. The metaverse, though intriguing, seemed like a sinking ship: Meta didn’t have a clear objective, and the company didn’t know how it would profit from the technology. And it’s not like Meta is bleeding cash. More importantly, it showed that Zuckerberg and leadership were flexible and willing to admit their mistakes. In February 2023, Zuckerberg said Meta would create a top-level product team focused on developing a content-generative AI tool. After reporting a second quarter of consecutive losses in October 2022, Zuckerberg asserted that the company would spend more money in 2023 to develop its metaverse at Reality Labs. The company can use it internally to help its engineers work more efficiently. Investors found this hard to swallow because Reality Labs cost Meta $13.72 billion in 2022 and generated only $2.16 billion in return. If that confuses you, let’s look at what’s happening with Meta and why investors are feeling bullish this year. Per his public announcement, Zuckerberg is cutting “lower priority projects” and trimming middle-management positions. This follows a round of 11,000 layoffs announced in November 2022, part of a wave of It might seem odd that Meta’s stock would surge after more layoffs.