Meta lays off 11,000 people

Re:Meta lays off 11,000 people by pera on Wednesday November 09, 2022 @06:47AM (#33530210)

I wonder why the two biggest recent layoffs were by the two largest (US-based) social networks, is this the end of an era? And where is all that advertisement money going now?

As a side note, it's crazy to think that Meta stocks are currently -75% from its peak last year.

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Re:Meta lays off 11,000 people by nemo44x on Wednesday November 09, 2022 @06:53AM (#33530250)

Probably not. Some companies grew too fast and are now correcting. Nothing goes straight up or down. It will be tight for awhile though.

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Re:Meta lays off 11,000 people by Ragnarokk on Wednesday November 09, 2022 @08:00AM (#33530936)

I think it was mostly a bubble and it finally has popped. The big social networks were funded blindly because they were growing on the market. But of course it wouldn't be eternal

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Re:Meta lays off 11,000 people by weatherlite on Wednesday November 09, 2022 @08:37AM (#33531380)

The ios privacy change hurt Meta but honestly most financial reports I've seen from tech (Alphabet, Amazon etc) don't look great. It has to do with the macro environment we're in. Which tech stocks had a stellar year? Not that many.

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