Meta Platforms Inc. during the virtual Meta Connect event on Tuesday, October 11, 2022 in New York, USA. CEO Mark Zuckerberg speaks.
Michael Nagel | Bloomberg | Good pictures
Wednesday’s announcement from club holding Meta platforms ( META ) employs about 13% of its workforce, or more than 11,000 employees, a sign that CEO Mark Zuckerberg has, in the words of Jim Cramer, “got religion.” Manage uncontrollable expenses of the company. While we’re not happy that people are losing their jobs, we’d like to point out that the severance packages seem generous, and we hope they can blunt some of the blow for those unfortunate enough to be included in these layoffs.
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