WEB DESK
Meta Platforms Chief Executive Officer (CEO) Mark Zuckerberg has told employees that the social giant’s instant messaging apps — WhatsApp and Messenger — would propel the firm’s next series of revenue generation.
The billionaire’s announcement comes amid concerns about Meta’s financial woes. Facebook lost $650 billion after it changed its name to Meta Platforms Inc almost one year ago as Zuckerberg focused on delivering the Metaverse — Virtual Reality (VR) and Augmented Reality (AR) services (AR).
Mark Zuckerberg Takes The Blame for Layoffs:
Consequently, Facebook recently announced a mass layoff, an axing of 11,000 employees. The billionaire said this did not “play out” as he had expected. Furthermore, he took the blame and said, “I got this wrong.”
In comparison, Twitter, which started shedding its staff a few days after Elon Musk’s takeover, its workforce is now reduced to approximately half its original size.
The social media titan Meta is one of many planning layoffs. There have been layoffs at TikTok since July, a 20% reduction at Snap was reported in August, and Apple continues to ponder slow hiring. Earlier, Amazon officially started axing employees across its Alexa and cloud gaming divisions after reports emerged that the e-commerce juggernaut planned to let go of 10,000 employees.
