Meta

After seeing its global workforce grow by almost 70% during the pandemic, Meta's increasingly poor financial outlook is reportedly about to result in job ...

“The sad part is companies almost always immediately look to cut costs of the working people,” he said. In the third quarter alone, the division suffered a revenue loss of $3.7 billion, bringing its total yearly losses to $9.4 billion, with Meta anticipating these losses would “grow significantly year over year” in 2023. Musk also fired Twitter’s senior leadership alongside a number of company leaders, including the vice president of consumer product engineering. “So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year.” Third quarter revenue fell to $27.71 billion, a decrease of 4% year-over-year, while net income dropped 52% to $4.4 billion. According to former staff members, the teams impacted the most by Musk’s cuts include product trust and safety, policy, communications, tweet curation, ethical AI, data science, research, machine learning, social good, accessibility, and certain core engineering teams.