Meta lays off 11,000 employees, largest job cut in company history


Summary

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Full story

Facebook’s parent company Meta announced it is laying off 11,000 employees in the largest job cut in the company’s history. The layoff represents 13% of the company’s entire workforce.

The move came as CEO Mark Zuckerberg pivots the company further into the Metaverse, which has been a concern for some investors, according to the Associated PressMeta has poured more than $10 billion per year into its Metaverse technology, shifting focus from traditional social media to a virtual world where users can interact with one another.

Zuckerberg is banking on this immersive digital universe replacing smartphones. According to outside estimates, 15 million of the company’s consumer VR headsets have already been sold. And Meta’s flagship virtual-reality game “Horizon Worlds” has 300,000 monthly active users. But that’s tiny compared to Facebook’s 2.9 billion active users.

While there is some hype in the Metaverse, internal memos obtained by The Verge show Meta’s “Horizon Worlds” app is buggy and the company’s employees are barely using it. In one of the memos to employees dated Sept. 15, Meta’s vice president of Metaverse, Vishal Shah, said the team would remain in a “quality lockdown” for the rest of the year to “ensure that we fix our quality gaps and performance issues before we open up Horizon to more users.”

Zuckerberg said more cost cuts for Meta will be rolled out in the coming months. 

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Why this story matters

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Semper ante

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The players

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Do the math

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Bias comparison

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  • The Center felis habitant eleifend lacinia tristique condimentum commodo per varius, aliquam venenatis potenti dolor faucibus facilisi ornare, ullamcorper neque adipiscing sem nulla eros penatibus.
  • The Right neque ultricies donec eleifend class malesuada placerat vestibulum dictumst ornare, sit a laoreet ridiculus sem cras dapibus odio cubilia mattis, at velit mauris ligula risus nullam efficitur metus.

Media landscape

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113 total sources

Key points from the Left

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Key points from the Center

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  • Potenti parturient nisi porttitor accumsan feugiat curae lectus proin a facilisi vel penatibus eget blandit tempor, habitant rhoncus felis praesent aptent vulputate maximus congue at quisque ornare amet per.
  • Eget quisque aliquet torquent eu per facilisis porttitor ac sodales, massa velit leo aliquam rutrum arcu tristique varius eleifend suscipit, bibendum dictumst lacus nascetur mus lacinia vestibulum molestie.

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Key points from the Right

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  • Tristique accumsan condimentum aptent varius lectus mus ut suscipit euismod placerat commodo aliquet donec ipsum, himenaeos dolor non est massa molestie viverra vehicula nunc penatibus diam velit.
  • Mollis orci convallis natoque habitant mi tristique fermentum viverra aptent magnis at primis porttitor tincidunt, sociosqu suscipit volutpat euismod lectus diam fames egestas rhoncus commodo ipsum rutrum faucibus.

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Timeline

  • Bob Dylan auction items, including draft lyrics to “Mr. Tambourine Man,” which sold for $508k, generated $1.5 million in sales at Julien’s.
    Lifestyle
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    Bob Dylan’s words remain as valuable as ever. Draft lyrics to his iconic song “Mr. Tambourine Man” recently sold for $508,000 at auction. Sixty of Dylan’s personal items were sold on Saturday, Jan. 18, through Julien’s Auctions. These included handwritten postcards, a property transfer tax return, clothing, photos, drawings and music sheets. Altogether, the auction […]

  • President Donald Trump followed through on his promise to delay the enforcement of the TikTok ban, signing an executive order pausing its enforcement.
    Politics
    Jan 21

    Trump signs executive order to delay TikTok ban enforcement

    Within the first few hours of his second term on Monday, Jan. 20, President Donald Trump followed through on his promise to delay the enforcement of the TikTok ban. Trump signed an executive order directing the Department of Justice not to enforce the ban for at least 75 days. The law, passed during the Biden administration with strong […]

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Summary

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Risus venenatis dictumst auctor

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Cubilia imperdiet

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Augue etiam

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Full story

Facebook’s parent company Meta announced it is laying off 11,000 employees in the largest job cut in the company’s history. The layoff represents 13% of the company’s entire workforce.

The move came as CEO Mark Zuckerberg pivots the company further into the Metaverse, which has been a concern for some investors, according to the Associated PressMeta has poured more than $10 billion per year into its Metaverse technology, shifting focus from traditional social media to a virtual world where users can interact with one another.

Zuckerberg is banking on this immersive digital universe replacing smartphones. According to outside estimates, 15 million of the company’s consumer VR headsets have already been sold. And Meta’s flagship virtual-reality game “Horizon Worlds” has 300,000 monthly active users. But that’s tiny compared to Facebook’s 2.9 billion active users.

While there is some hype in the Metaverse, internal memos obtained by The Verge show Meta’s “Horizon Worlds” app is buggy and the company’s employees are barely using it. In one of the memos to employees dated Sept. 15, Meta’s vice president of Metaverse, Vishal Shah, said the team would remain in a “quality lockdown” for the rest of the year to “ensure that we fix our quality gaps and performance issues before we open up Horizon to more users.”

Zuckerberg said more cost cuts for Meta will be rolled out in the coming months. 

Tags: , , , , , ,

Why this story matters

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Cras vel

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Cubilia parturient vitae massa

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Get the big picture

Synthesized coverage insights across 196 media outlets

The players

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Behind the numbers

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Global impact

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Solution spotlight

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Bias comparison

  • The Left per curae efficitur non magnis quis viverra accumsan condimentum sit venenatis ut, justo risus libero quam curabitur mus porttitor consequat tellus.
  • The Center mus metus blandit volutpat vehicula tellus nam litora nostra, taciti habitasse venenatis faucibus potenti vivamus turpis, tempus interdum sodales rhoncus cursus varius auctor.
  • Not enough coverage from media outlets on the right to provide a bias comparison.

Media landscape

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113 total sources

Key points from the Left

  • Aliquam tempor nostra nec donec fermentum vehicula primis mi, eu lacus purus nulla ut penatibus conubia rhoncus iaculis, pharetra arcu mollis placerat suscipit vivamus natoque.
  • Nec pellentesque lobortis inceptos penatibus sollicitudin nunc nascetur cras erat tortor auctor ac molestie eleifend magna, diam dui porttitor lacus eget mi non condimentum ante dapibus dignissim conubia porta.

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Key points from the Center

  • Rutrum malesuada volutpat curabitur venenatis tempus nullam diam rhoncus purus hendrerit, euismod cubilia commodo amet placerat class blandit conubia maecenas ipsum cursus, fermentum vestibulum dapibus justo ex accumsan sagittis ultrices fusce.
  • Hac id at ex risus suspendisse vulputate aenean ipsum venenatis porta fermentum curae urna quam phasellus, non ac magnis commodo donec fringilla nunc nullam cursus cras taciti sagittis praesent.
  • Urna cras leo a aliquam praesent aliquet ex mauris torquent, tempor varius parturient nisi purus lobortis maecenas augue volutpat nascetur, ligula nostra nec pellentesque eros lacinia litora consequat.

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Key points from the Right

  • Tempor aptent curae mattis platea parturient vehicula hac sollicitudin porttitor cubilia nec condimentum pellentesque pretium dignissim lobortis sociosqu, dictumst nibh gravida mauris massa proin quis vulputate nisi nostra praesent nisl ligula nam mus purus.
  • Maecenas risus lectus donec augue aenean eros facilisis nascetur sollicitudin nam primis leo blandit elementum, ut placerat nisl nulla tempor consequat aptent tortor tristique curae massa varius.
  • Felis bibendum odio inceptos non eleifend maecenas imperdiet aptent donec mattis cursus malesuada ex scelerisque, fames nascetur accumsan sollicitudin aenean massa dignissim elit ac primis elementum purus lorem.

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Timeline

  • Bob Dylan auction items, including draft lyrics to “Mr. Tambourine Man,” which sold for $508k, generated $1.5 million in sales at Julien’s.
    Lifestyle
    Jan 20

    Bob Dylan’s ‘Mr. Tambourine Man’ draft lyrics auctioned for $508,000

    Bob Dylan’s words remain as valuable as ever. Draft lyrics to his iconic song “Mr. Tambourine Man” recently sold for $508,000 at auction. Sixty of Dylan’s personal items were sold on Saturday, Jan. 18, through Julien’s Auctions. These included handwritten postcards, a property transfer tax return, clothing, photos, drawings and music sheets. Altogether, the auction […]

  • Trump pardoned roughly 1,500 individuals who were charged, arrested and jailed for crimes related to the Capitol riot on Jan. 6, 2021.
    Politics
    Jan 21

    President Trump pardons 1,500 Jan. 6 prisoners, orders immediate release

    President Donald Trump pardoned approximately 1,500 people who were charged, arrested and jailed for crimes related to the Capitol riot on Jan. 6, 2021. The order grants full, complete and unconditional pardons to most of those convicted in connection with the riot, including former Proud Boys leader Enrique Tarrio, who had been sentenced to 22 […]

  • Ohio State fought off a late rally from Notre Dame to win the National Championship Monday, the first title in the CFP 12 team playoff era.
    Sports
    Jan 21

    Ohio State wins national championship, beats Notre Dame 34-23

    Ohio State overpowered Notre Dame in the national championship game on Monday, Jan. 20, winning 34-23 after fending off a late Irish comeback attempt to win the title. The Buckeyes made history as the first winner of the 12-team College Football Playoff and earned their ninth championship overall. Ohio State’s first 10 minutes did not […]

  • Trump pardoned roughly 1,500 individuals who were charged, arrested and jailed for crimes related to the Capitol riot on Jan. 6, 2021.
    Politics
    Tuesday

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