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Author who inspired 'The Social Network' says Facebook may not be our friend

Video Credit: Bleacher Report AOL - Duration: 02:48s - Published
Author who inspired 'The Social Network' says Facebook may not be our friend

Author who inspired 'The Social Network' says Facebook may not be our friend

Ben Mezrich, author of “The Accidental Billionaires,” which was made into the 2010 film “The Social Network” speaks to CNN’s Brianna Keilar about Mark Zuckerberg and the current turmoil at Facebook.


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Mark Zuckerberg Mark Zuckerberg American internet entrepreneur (born 1984)

Meta Announces Plan to Lay Off 11,000 Employees [Video]

Meta Announces Plan to Lay Off 11,000 Employees

Meta Announces Plan , to Lay Off 11,000 Employees. CNN reports that Facebook's parent company, Meta, is getting ready to lay off 11,000 employees, the largest job cut in the social media giant's history. The news comes amid Meta's costly shift to the metaverse. Recent months have seen other major tech firms announcing layoffs as the sector feels the impact of rising inflation, interest rates and fears of a possible recession. Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go, Mark Zuckerberg, Meta CEO, via CNN. Zuckerberg reportedly added that the company's hiring freeze would be extended into 2023. . CNN reports that Meta has been spending billions on building the metaverse, a future version of the internet still years away from being fully developed. In October, Meta announced its second quarterly decline in revenue and profits that were half of what they were in the prior year. CNN reports that Meta's value dropped from over $1 trillion in 2021 to around $250 billion today. I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted, Mark Zuckerberg, Meta CEO, via CNN. I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted, Mark Zuckerberg, Meta CEO, via CNN. Other top tech companies made similar announcements in recent months, with Lyft announcing it would lay off 13% of its employees and Amazon implementing a corporate hiring pause. . Other top tech companies made similar announcements in recent months, with Lyft announcing it would lay off 13% of its employees and Amazon implementing a corporate hiring pause.

Credit: Wibbitz Top Stories    Duration: 01:30Published
Facebook parent Meta reduces workforce by 11,000; Mark Zuckerberg apologises | Oneindia News*News [Video]

Facebook parent Meta reduces workforce by 11,000; Mark Zuckerberg apologises | Oneindia News*News

Meta cuts more than 11,000 jobs; biggest cuts in Facebook parent company’s history; Midterm elections: Close fight between Democrats and Republicans; UN General Assembly to vote on Russian reparations; North Korea fires another ballistic missile, South identifies salvaged debris as part of Soviet-era weapon. #Meta #MarkZuckerberg #USMidtermElections

Credit: Oneindia    Duration: 02:35Published
Meta to lay off more than 11,000 employees: 'I got this wrong' says Zuckerberg [Video]

Meta to lay off more than 11,000 employees: 'I got this wrong' says Zuckerberg

“Today I’m sharing some of the most difficult changes we’ve made in Meta’s history,” CEO Mark Zuckerberg said in a letter to staff.

Credit: euronews (in English)    Duration: 00:45Published
Facebook Parent Company Meta Expected To Begin Layoffs Soon [Video]

Facebook Parent Company Meta Expected To Begin Layoffs Soon

Facebook Parent Company Meta , Expected To Begin Layoffs Soon. 'The New York Times' and 'The Wall Street Journal' reported the layoffs on Nov. 7. . The reporting stated that layoffs of the company's 87,300 employees will likely be implemented sometime during the week. In October, Meta reported that its quarterly profits had dropped by 50 percent. Meta CEO Mark Zuckerberg stated at the time that a majority of “teams will stay flat or shrink over the next year.”. Zuckerberg added that Meta likely would “end 2023 as either roughly the same size, or even a slightly smaller organization than we are today.”. However, he acknowledged in July that there are Meta employees "who shouldn't be here.". I think some of you might decide that this place isn’t for you, and that self-selection is OK with me, Mark Zuckerberg, Meta CEO, via 'The New York Times'. Realistically, there are probably a bunch of people at the company who shouldn’t be here, Mark Zuckerberg, Meta CEO, via 'The New York Times'. While many tech companies reported increased profits during the pandemic. ... many of the same companies have struggled in recent weeks. The layoffs at Meta come as other high-profile tech companies have also made significant cuts. Elon Musk, the new owner of Twitter, has laid off half of the company's staff. Lyft also announced a 13 percent reduction in its workforce. Amazon announced a corporate hiring freeze in October, due to the economy being in an "uncertain place."

Credit: Wibbitz Top Stories    Duration: 01:31Published
Investors Express Frustration As Meta Stock Continues To Plummet [Video]

Investors Express Frustration As Meta Stock Continues To Plummet

Investors Express , Frustration As Meta Stock , Continues To Plummet. Business Insider reports that Meta investors are unhappy with Mark Zuckerberg's plans for the metaverse as the company's stock continues to plunge. Since Facebook first announced its parent company was changing its name to Meta, the company has lost over 70% of its value. Since Facebook first announced its parent company was changing its name to Meta, the company has lost over 70% of its value. Last week, shares in Meta dropped 24% after the company revealed it had once again missed its earnings targets. . At the same time, Zuckerberg said he plans to spend billions more on the metaverse project after already dumping $15 billion into it in 2022 alone. At the same time, Zuckerberg said he plans to spend billions more on the metaverse project after already dumping $15 billion into it in 2022 alone. If any other company had done this you'd have activist investors writing letters, proposing alternative slates of directors, demanding change, Jim Tierney, chief funding officer for U.S. development at Meta shareholder AllianceBernstein, via 'Financial Times'. I think Mark heard crystal clear what investors wanted. He's made his decision, Jim Tierney, chief funding officer for U.S. development at Meta shareholder AllianceBernstein, via 'Financial Times'. A spokesperson for Meta told 'Financial Times' that the company is , "focused on executing on the company's key priorities with an eye toward creating long-term shareholder value.". A spokesperson for Meta told 'Financial Times' that the company is , "focused on executing on the company's key priorities with an eye toward creating long-term shareholder value.". We value the opinions of our investors and regularly engage with them to ensure we're aware of their respective perspectives, Meta spokesperson, via 'Financial Times'. Business Insider reports that Zuckerberg has complete veto power over other shareholders when it comes to the direction the company is headed. . Business Insider reports that Zuckerberg has complete veto power over other shareholders when it comes to the direction the company is headed. . This ironclad control has left investors, who have limited voting power in the company, frustrated as the social media giant's value continues to dwindle

Credit: Wibbitz Top Stories    Duration: 01:31Published