Meta layoffs show Mark Zuckerberg ‘religious’ on costs, but he needs to cut more

Mark Zuckerberg, CEO of Meta Platforms Inc., speaks during the Meta Connect virtual event in New York, U.S., Tuesday, October 11, 2022.

Michael Nagle | Bloomberg | Getty Images

Club holding’s announcement on Wednesday Metaplatforms (META) that it employs about 13% of its workforce, or more than 11,000 employees, is a sign to us that CEO Mark Zuckerberg, in the words of Jim Cramer, “has religion” when it comes to to try to get a handle on the company’s uncontrollable costs. While we don’t welcome people losing their jobs, we would like to point out that the severance packages seem generous, and we hope they can mitigate some of the blow for those unfortunate to be included in these reductions. of staff.

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