Meta plans to cut thousands of jobs, after CEO predicted no more layoffs

Re:Meta plans to cut thousands of jobs, after CEO predicted ... by deeviant on Wednesday February 22, 2023 @12:52PM (#34899662)

That doesn't sound right.

"Facebook reported $23.1 billion net profit in 2022, a decline on the $39.3 billion made in 2021. Meta has invested heavily into the metaverse, which is cutting into its profits."

https://www.businessofapps.com/data/facebook-statistics/

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Re:Meta plans to cut thousands of jobs, after CEO predicted ... by ensignavenger on Wednesday February 22, 2023 @01:08PM (#34899977)

That means they are still making tons of money, just less than they did a year ago.

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Re:Meta plans to cut thousands of jobs, after CEO predicted ... by mrtranscendence on Wednesday February 22, 2023 @02:38PM (#34901434)

If profits keep going down at similar rates, we'll see how long "tons" lasts.

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Re:Meta plans to cut thousands of jobs, after CEO predicted ... by Ancalagon on Wednesday February 22, 2023 @02:33PM (#34901350)

I know I've already heard they were investing a lot of money, but _tens of billions of dollars_ in the metaverse? Holy fuck. Where is it all going?

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Re:Meta plans to cut thousands of jobs, after CEO predicted ... by x0x0 on Thursday February 23, 2023 @01:53AM (#34907605)

headcount

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