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Report: Meta Preparing Large-Scale Layoffs

  • #Computers & internet
  • #Finance
  • #Labor
  • #COVID-19
  • #Politics
  • #Unemployment
  • #Science & technology
  • #Economic conditions & trends
story
NOV 2022
Image copyright: AP [via The Wall Street Journal]
story last updated NOV 2022

The Spin

Pro-establishment narrative

This is the unfortunate reality for the tech industry when the economy takes a downturn. With inflation and interest rates up, investment and revenue are down, which means companies need to cut off some of the excess expenses, like employees. To keep investors happy, both start-ups and massive platforms like Meta need to ensure they hit certain market goals.

Business Insider

Establishment-critical narrative

Meta's financial problems aren't only from inflation but also the $9B already lost due to Zuckerberg's obsession with VR goggles and the metaverse. The irony is that while looking to mass-fire employees throughout the company, Zuckerberg doesn't seem to be reining in his metaverse ambitions. Only time will tell, but these layoffs won't do much good if no one wants to join Meta's virtual world.

Quartz

Metaculus Prediction


Establishment split

CRITICAL

PRO

Meta stock climbs as the Facebook parent reportedly joins Twitter and other tech firms with massive layoff plans
Business InsiderJUL 2022
Billionaire Barry Diller said there is something 'quite odd' in Mark Zuckerberg's decision to turn Facebook into Meta
Business InsiderJUL 2022
Daily Dozen | Forbes: Twitter Layoffs Cloud Midterms | Dr. Oz’s Billionaire Backer | The Year Of Moving Farther
ForbesJUL 2022
Meta to Lay Off Thousands of Workers This Week, Report Says
TimeJUL 2022
Elon Musk’s Twitter Layoffs Foreshadow More Tech Downsizings
ForbesJUL 2022
Meta expected to lay off thousands in broader tech slowdown
Washington PostJUL 2022
Tech giant Meta to announce major changes – WSJ
RTJUL 2022
Meta Is Said to Plan Significant Job Cuts This Week
New York TimesJUL 2022
Zuckerberg to fire '10% of Meta's 87,000 staff' in company's first ever mass layoffs, says analyst
Daily MailJUL 2022
Big Layoffs at Facebook Expected as Big Tech's Big Pucker Continues, Thanks to Democrats
PJ MediaJUL 2022
Meta Planning to Fire ‘Thousands’ of Employees – Reports
InfoWarsJUL 2022

More neutral establishment stance articles

Facebook parent Meta preparing to announce large-scale layoffs this week, report says
IndependentJUL 2022
Bad Luck Zuck: Facebook to Begin Massive Layoffs This Week
BreitbartJUL 2022