Zuckerberg questioned at a staff meeting after Meta’s layoff announcement

Meta CEO Mark Zuckerberg was questioned by employees at an all-hands meeting Thursday, after parent company Facebook announced it would lay off another 10,000 workers.

Employees reportedly asked Zuckerberg how they could be expected to trust the company’s leadership after the sudden second round of layoffs, according to Washington Post.

“I think the way people are going to assess whether you trust me and want to work at this company is whether we succeed in making progress toward the overall stated goals,” Zuckerberg said, according to the newspaper, while also acknowledging that it’s a “fair question.”

Zuckerberg announced Tuesday that Meta will cut 10,000 jobs and close 5,000 open positions, citing a “challenging economic environment” amid soaring interest rates and geopolitical instability.

“At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years,” Zuckerberg said. “Higher interest rates make the economy leaner, more geopolitical instability leads to more volatility, and increased regulation slows growth and increases the costs of innovation.”

The additional round of layoffs comes after the Meta CEO previously told employees in November that the massive cuts were made in an effort to “reduce the chance of having to make large-scale layoffs like this in the foreseeable future,” The Post reported. .

Copyright 2023 Nexstar Media Inc. All Rights Reserved. all rights are save. This material may not be published, broadcast, rewritten, or redistributed.

See also  The inflation nightmare is getting worse: Producer prices are breaking out. The rules of the inflationary mentality

Leave a Reply

Your email address will not be published. Required fields are marked *