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Meta Madness: Facebook Parent to Lay off
Thousands, Stock Down 70% for the Year

Original Article

Posted By: Hazymac, 11/7/2022 7:18:00 AM

n yet another sign of the Big Tech industry’s woes, social media giant Meta Platforms, Inc., the parent company of Facebook, is planning on laying off thousands of employees as early as Wednesday, according to the Wall Street Journal. This follows news that Twitter boss Elon Musk ordered wide-scale layoffs at his company last week, cutting staff by 50 percent from about 7,500 to 3,750. (Weirdly, there are reports circulating Sunday that he’s already asking some of them to come back.) These will be the first large-scale terminations in the history of the 18-year-old company. Employees were told to cancel nonessential travel beginning this week, according to reports.

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Reply 1 - Posted by: Strike3 11/7/2022 7:30:57 AM (No. 1326955)
Zuckerberg deserves this for helping Obama and Biden manipulate information and censor conservative voices. I hope his fortune gets reduced to millions instead of billions.
24 people like this.

Reply 2 - Posted by: petrichor 11/7/2022 7:37:31 AM (No. 1326962)
I have a hard time understanding how some of these companies employ so many people. They're not producing goods. They're not providing services. Does it take that many people just to stifle conservative thought?
17 people like this.

Reply 3 - Posted by: Rich323 11/7/2022 7:38:31 AM (No. 1326963)
I hope he and Meta go completely bankrupt and offline permanently. Lots of snowflakes will cry, because their whole life is loaded on that server. Waaa!
16 people like this.

Reply 4 - Posted by: JrSample 11/7/2022 7:40:36 AM (No. 1326965)
Failbook is run by idiots. Recently, I was suspended for violating their ''community standards'' by posting a video of an Osama Bin Laden impersonator singing a Lady Gaga song, ''Poker Face''. Evidently, whoever made that decision is too stupid to understand parody, since the stated reason was ''dangerous person promoting violent ideology''. Their idiot must have thought that the comedian really was OBL and that Al Qeida are Lady Gaga fans.
8 people like this.

Reply 5 - Posted by: Krause 11/7/2022 7:41:12 AM (No. 1326967)
Well, at least Z got his latest mansion built before this implosion.
5 people like this.

Reply 6 - Posted by: mobyclik 11/7/2022 8:17:55 AM (No. 1326999)
Nice to see some good news for a change.
10 people like this.

Reply 7 - Posted by: Amanoftwistsandturns 11/7/2022 8:31:18 AM (No. 1327012)
Facebook’s user numbers are dropping and greatly inflated by fake accounts and it’s largest user base is in India which is not known for paying customers so ad revenue is not great.
8 people like this.

Reply 8 - Posted by: udanja99 11/7/2022 8:47:12 AM (No. 1327034)
How nice! A morning cup of schadenfreude! Zuck should be in prison for funding the big cheat of 2020.
13 people like this.

Reply 9 - Posted by: jeffkinnh 11/7/2022 9:27:14 AM (No. 1327063)
Zuckerberg spent $400+ million influencing the 2020 election. Now his company has lost $700 BILLION in market valuation. Revenue is down and people are turning away from Facebook and Instagram in disgust. His personal net worth has dropped from ~$138 billion to ~$38 billion in the past year, over a 2/3 loss. 250 times what he spent on the shady election manipulations. A well deserved hit. It's too bad that so many people have to suffer along with Zuck to drive a point home but "Get woke, Go broke.". This needs to be hammered home to remind companies to keep their noses OUT of politics. ESPECIALLY out of shady politics. It can be, and SHOULD BE lethal. MAX schadenfreude!
6 people like this.

Reply 10 - Posted by: Highlander 11/7/2022 10:01:07 AM (No. 1327078)
Reply 1; His billions should be reduced to $500.00 monthly SSA checks.
3 people like this.

Reply 11 - Posted by: paral04 11/7/2022 10:16:44 AM (No. 1327094)
When Musk let people go he was a tyrant. When Zuckerberg does it it seems a "reasonable thing to do".
6 people like this.

Reply 12 - Posted by: anniebc 11/7/2022 11:25:42 AM (No. 1327155)
Marxists always take out their useful idiots first.
1 person likes this.

Reply 13 - Posted by: DVC 11/7/2022 11:50:54 AM (No. 1327182)
Such great news. Perhaps it will go entirely out of business. Couldn't happen to a more deserving slimeball, anti-American, anti-freedom piece of trash.
4 people like this.

Reply 14 - Posted by: mc squared 11/7/2022 12:56:47 PM (No. 1327267)
Haven't they already learned to code? They can get a gig teaching it to the laid-off energy workers.
0 people like this.

Reply 15 - Posted by: GrandmaP 11/7/2022 2:20:10 PM (No. 1327321)
My first thought was what took them so long to act on a reduction in force. FB management deserved the 70% loss in stock price. Unfortunately, a lot of little investors who have shares will be burned the most.
1 person likes this.

Reply 16 - Posted by: zephyrgirl 11/7/2022 3:32:26 PM (No. 1327366)
I'll bet if you eliminated all the accounts with no activity for 12 months, you'd probably lose 2/3 of of the users. Occasionally, out of curiosity, I go check out the pages of suggested "friends" (mostly friends of friends). Most of the time, there's a page with no activity for years.
1 person likes this.

Reply 17 - Posted by: Lucky5 11/7/2022 4:09:04 PM (No. 1327385)
A lot of this is his strange obsession with his "Meta" world. No one likes it or cares. It is like those horrible Google glasses. Those outside of it can see the failure way ahead of the guy who desperately is pushing it.
2 people like this.

Reply 18 - Posted by: Island Life 11/7/2022 9:30:35 PM (No. 1327575)
It must Suck to be Zuck. Turn him upside down and there's no difference. His naked head looks like a naked bum.
0 people like this.

Reply 19 - Posted by: Lawsy0 11/7/2022 10:47:14 PM (No. 1327614)
Not a moment too soon, if you ask me. Ask not what you can do for Facebook, ask only what has Facebook ever done for you!
0 people like this.

Reply 20 - Posted by: mifla 11/8/2022 6:31:47 AM (No. 1327754)
How long before the soon to be laid off employees start screaming that it is unfair to lay anyone off since Zuck is still worth billions?
0 people like this.

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