Meta virtual reality interrupted by financial reality as thousands lose their jobs Meta Platforms began another round of layoffs on Wednesday, focused largely on employees in technical roles. The staff reductions were announced last month by CEO Mark Zuckerberg in an "Update on Meta’s Year of Efficiency." "We expect to announce restructurings and layoffs in our tech groups in late April, and then our …
Meta's Year of Efficiency was preceded by 2022, a year of revenue decline (-4 percent) and rising costs (+22 percent), partly attributable to Apple's iOS privacy changes in 2021 that reduced Meta's ad targeting revenue by about $10 billion.The social ad biz last year lost $13.7 billion in 2022 due to its Reality Labs group, which proved efficient in its extravagant spending.
I think there's a fairly obvious way forward here...
A curious feature of the English language.
Have they Been Let Go, Let Down, Let Out, Let Off, Cast Off or Cast Asunder?
No, they have been fired, and without cause. If they thought that the company gave two shits about them then they have been severely Let Down.
"Cast Off" is probably the better of the above phrasal verbs - cast off like one discards weight (or/and comrades) from a leaky hot air balloon, in the vain hope that it might clear the volcano ahead.
> If they thought that the company gave two shits about them
...they were terminally delusional. The company only hoped it could make some money out of them, and once it realized it wouldn't make enough, it discarded them. If after the age of 20 you still believe in any paternalistic "we are a family" talk you're hopeless.
(Didn't downvote you.)
But thank f*ck reality is biting.
I've had to listen to numerous CxO's of multi-billion company's drivel on about "The face of the Internet is changing, the metaverse is coming."
It's another case of businesses, listening to evangelists... where what they should be looking at, is the porn industry. If its not being used to peddle smut... then it's dead end for everything else.
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