The Daily Chart: Facebook’s Faceplant

Meta, formerly known as Facebook, looks to be trying to go from Meta to Meh, with the announcement of an additional 10,000 layoffs, and the cancellation of 5,000 current job openings. This, on top of 11,000 layoffs last fall that Mark Zuckerberg said would be the extent of it. Maybe this has some reason to do with reducing Meta’s headcount:

Between these layoffs and the precipitous decline of venture capital activity and IPOs in Silicon Valley, California may soon be looking at its worst economic swoon since the aerospace industry abruptly contracted at the end of the Cold War in 1990.

The Meta minions aren’t happy with Zuckerberg.

Meta CEO Mark Zuckerberg was grilled by staff at an all-hands meeting on Thursday, following the Facebook parent company’s announcement that it would lay off another 10,000 workers. Staff reportedly asked Zuckerberg how they can be expected to trust the company’s leadership after the surprise second round of layoffs. . .

That’s okay; I’m sure the laid off DEI staff can find jobs with Disney. Oh, wait: Disney to lay off 4,000 workers in April

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